Can I break a commercial lease if the government closes my business?
Question by Hugh U: Can I break a commercial lease if the government closes my business?
I lease a storefront and operate a payday advance business from it. The State government recently passed legislation which forces me out of business because they reduced the fees I can charge by 93%. It’s impossible to pay my expenses, let alone make a profit, under these circumstances. I have two more years left on the lease – do I have any legal grounds to break the lease under these circumstances?
Best answer:
Answer by acermill
Not a chance, unless your lease agreement covered such a situation, which is highly doubtful. You took a business risk and conditions changed. It’s not the landlord’s fault that such occurred. Cough up and learn a lesson.
Add your own answer in the comments!
Categories: Loan Questions Tags: break, Business, closes, Commercial, Government, Lease., lesson, Question, reduced