The answer to that depends on whether there is a relocation clause in your lease. A relocation clause permits a landlord to move your business to another location in the same building or shopping center to make room for another tenant. Even if the landlord covers the entire cost of relocation, a relocation still costs you a great deal in lost business during the move, returning customers unable or unwilling to find your new location and other costs of moving such as website, advertising and other costs associated with a changed address. If a landlord insists on a relocation provision, be sure to carefully delineate which rental spaces are acceptable (for example, make sure you get an endcap), clarify that the landlord will pay for all direct and incidental costs of the move and reserve the right to terminate your lease if the new space is unacceptable.
Frequently Asked Questions
We’re business law and franchise lawyers in Chicago providing customized legal services to businesses and their owners, franchisors and franchisees, and the restaurant and hospitality industry. Our knowledgeable, effective, and responsive attorneys counsel clients in connection with contracts and franchise agreements, corporate and LLC issues, leases and real estate transactions, employment issues, estate planning and business succession, and lawsuits and alternative dispute resolution.Search For:
-
Recent Posts
Categories
Contact Us
20 N. Clark St., Ste. 2500 Chicago, IL 60602 t: (312) 216-2720 f: (312) 216-2731 www.marcusboxerman.com info@marcusboxerman.com