So what exactly is a commercial office lease?
Well, this is a legal agreement between a tenant and a landlord, and it basically outlines the kind of relationship that’s between them in terms of how a property is going to be used in exchange for a monetary payment.
This agreement covers various details, like terms of effective and expiration dates.
Now, when a lease is broken, it means that one of the two parties has failed to fulfill one or more of the stated terms in the contract.
How is liability reduced when the commercial office lease has been broken?
Primarily, a lease serves its purpose of protecting interests of both parties.
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Some of the preemptive measure that can be taken to reduce liability at LCRG include the following:
This is where both parties negotiate a cap on the exposed liability. This happens when the contract has been terminated or is in its expiration.
Here, both parties pay for the stated amounts of damages, which is as opposed to other means of compensation. Anyway, if this seems a hard process, then why don’t click at http://www.lcrgusa.com/ and leave the rest to the experts.
This clause may have been placed in the contract, where both parties can decide to terminate the agreement prior to its expiration.
However, and in most cases, this is only effective for a number of days. After that, it is no longer effective.
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Here, the tenant has the right to re—assign the agreement to another party, but only within terms of contract.
After that, the original tenant no longer has the liability, and it is because the renter has assumed the liability of the agreement.
Breaking a commercial office lease can surely be damaging, thus should be avoided. And there is no better experts to do this than the LCRG, who are the best commercial tenant reps in Dallas, TX.