Discovering a breach of your commercial lease can be a challenging situation, requiring swift and strategic action. Here's a step-by-step guide on what to do when faced with a breach of commercial lease to protect your rights and interests.
- Review the Lease Agreement
Begin by thoroughly reviewing the commercial lease agreement by the conveyancer and property lawyer. Determine which particular terms and conditions were broken. This will serve as the foundation for understanding your rights and the remedies available.
- Document the Breach
Gather evidence to document the breach. This may include photographs, communication records, and any relevant correspondence. A well-documented case strengthens your position in legal proceedings or negotiations.
- Notify the Tenant
Send a formal notice to the tenant outlining the breach. Clearly state the nature of the breach, refer to the specific lease clauses violated, and provide a reasonable timeframe for the tenant to remedy the breach. This formal notice is a crucial step in the legal process.
- Consult Legal Counsel
Seek the guidance of a commercial lease attorney. They can assess the situation, interpret the lease terms, and advise you on the best course of action. Legal counsel will help you understand your rights and the potential remedies available under the law.
- Mediation or Negotiation
Consider engaging in mediation or negotiation with the tenant. These alternative dispute resolution methods can help parties reach a mutually acceptable resolution without resorting to formal legal proceedings. It may involve renegotiating terms, resolving misunderstandings, or finding a compromise.
- Terminate the Lease
If the breach is significant and irreparable, you may have the option to terminate the lease. Check the lease agreement for provisions related to termination due to breach and follow the prescribed procedures. Terminating the lease may involve legal complexities, so consult with your attorney.
By understanding your rights, documenting the breach, and seeking legal guidance, you can take appropriate actions to protect your interests and resolve the situation effectively.
