If you are unhappy with your current lease, it may be possible to ask your landlord to cancel the remainder of its term. This may allow to move to another location within Pennsylvania that is less expensive or is otherwise better suited to what your business aims to accomplish. However, there is no guarantee that your landlord will agree to renegotiate or terminate an agreement.
It may be possible to sublet the space
A landlord is primarily concerned with ensuring that someone is paying to occupy the property. Therefore, the owner of the property that you are currently making use of may be willing to let you find a new tenant to take your place. However, even if you find a new tenant, your name may still be on the lease agreement. This means that you could still be liable for unpaid rent or damage caused by whoever the agreement is transferred to.
Be prepared to pay a penalty
It may be necessary to pay a penalty to end your lease before it is scheduled to expire. Alternatively, you may be required to make some or all of the remaining rent payments as a condition of breaking a rental agreement. It is important to note that a property owner must make a good faith effort to find a new tenant after you announce your plans to vacate the premises.
If you can show that this hasn’t happened, it may be possible to stop making rent payments without incurring additional penalties. You may also want to have an attorney review your lease to determine if you have grounds to break it without paying anything to the property owner.
A business law attorney may be able to help you find a way to get out of your current lease in a timely and affordable manner. In some cases, the terms of a deal may contain out clauses or other ways to break it without incurring significant penalties. Legal counsel may also be able to represent your interests if a dispute with your landlord goes to trial.