Bethesda, MD (PRWEB) January 23, 2014
Most people view business leases as something they can never get out of. Thankfully, with a little ingenuity and a good attorney, there are ways to plot your escape from an otherwise binding property lease. In his latest Huffington Post article, “How to Get Out of a Bad Lease," attorney and author Jack Garson provides three lease extraction strategies to get you out of a bad situation. There is always a way out of a lease, Garson suggests, but you have to know where to look for it.
Consider these lease-busting strategies:
Bankruptcy, of course, provides a well known escape hatch. Generally, a tenant can terminate a lease in bankruptcy and limit its liability to one year's rent - sometimes less but it’s an expensive and intrusive option. The tenant spends a small fortune and needs approval for most business decisions - paralyzing operations and putting the company in a death spiral.
There are other techniques for extracting your company from a bad lease. In fact, with advanced planning and skillful legal advice, you can dramatically enhance your ability to build escape hatches into your leases and engineer a pain free exit, if it comes to that.
You can read Jack Garson’s entire article “How to Get Out of a Bad Lease" in the Huffington Post.
For media interviews with Jack Garson on this and other business related topics, please contact Marc Silverstein at 202-716-9123 or at marc(at)onthemarcmedia(dot)com.