Sunday, 20 April 2014

Business LeaseI leased two storefronts in July 2006. The landlord opened a wall to make one storefront of 4000 Sg. Ft. The lease states tha...

Question

Business Lease

I leased two storefronts in July 2006. The landlord opened a wall to make one storefront of 4000 Sg. Ft. The lease states that $4000.00 will be taken from my deposit of $15000.00 to rebuild the wall should I default. In February I told him I wanted to downsize to 2000 Sq. Ft. on April 1. He agreed. I assumed that I would get the remainder of my deposit back ($3500.00) for the second side. He now says that I broke the lease and must now forfeit the remainder of the deposit. Did I break the lease or just amend it?



Answer

Re: Business Lease

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