All Forum Posts by: William Lok

By the way, thank you for taking your time to answer my question. Much appreciated!

Thank you Andy B. for your response. This is indeed a commercial lease that was first used by the previous landlord in the 1990s. The lease was renewed in 2004 and 2005 each for ten years so in a way it does make sense that it follows a more formal style.

Now that I look back on the lease, (a) is referring to bankruptcy which makes me second guess whether this section is valid for my case. I was able to dig up an exact copy of the lease online. Who would have figured, eh?

http://agreements.realdealdocs.com/Office-Lease-Agreement/STANDARD-FORM-OF-OFFICE-LEASEThe-Real-Estate-Board-of-New-York-Inc-2049351/

Thanks for your input.

The lease was from the old landlord that used to own the property many years ago. When it came time to renew the lease, I assumed that it was easier to reuse it. In hindsight I probably should not have.

Hey guys,

I just got notice from my tenant today that he wants to break the lease for two properties that he's currently renting out. The lease does not expire till 9/30/2014 and 1/31/2015 respectively. I went through the lease and I found this paragraph in the lease.

I tried my best to understand what this states but I do not understand it completely. Does it state that I am able to claim the difference between how much I am currently charging my tenant and how much the fair market value after I deduct a 4% discount from it? If so, what if the fair market value is lower than what I am currently charging?

Thanks for your help guys!