For people newly in a commercial lease, it is important to understand the consequences if this obligation is not met or, in other words, non-compliance with the lease. The exact consequences depend on the terms of the lease, local law and the usual business practices in your municipality. This is one of the reasons why it is so important to check your rental terms with a lawyer before signing. And if you think you can be the norm, you should check the possible consequences with your lawyer. There are ways to avoid a default if you can`t or won`t pay your lease until the end of the period. The two main options are subletting or leasing. In both cases, you will find another tenant who pays part or all of the lease. Matt, it really depends on the local laws and the terms of your lease. Also, whoever holds the affair with your father has passed away. You can try selling the business or sublet the space (or combination).
Sub-leasing means you rent the space yourself. As a general rule, this requires the owner`s approval – again, depends on the terms of your lease. I would speak with a lawyer This article examines some of the most important remedies available to a landlord, where a tenant is late for a commercial lease in Bahrain. Remedies available to a lessor include so-called self-help and those that require legal proceedings. It should be noted that some of the corrective measures covered in this article are not mutually exclusive and may be used in conjunction with other corrective measures. Amount obtained from the replacement lease (rent) – cost of receiving the replacement tenancy (commissions, TIs, etc.), —————————————————————————- amount of the tenant in default Is due This remedy allows a landlord to prevent the tenant from violating an obligation of the tenancy agreement such as the user contract. For example, a landlord may prevent the tenant from changing the type of goods sold on the site. A lessor must be careful that certain acts on his part recognizing the continuation of the tenancy agreement after having been aware of the loss of tenants may lead the lessor to renounce the violation and, therefore, to lose his right to terminate.