Breaking Free, How One Mackay Tenant Successfully Exited a Long-Term Lease

Long-term commercial leases can offer security, but when your business changes direction, being locked in can become a real challenge. That was the case for Renee, a Mackay tenant with three years remaining on her lease. Her current premises no longer suited her needs, and she was ready to move on.

Unsure of her options, Renee reached out to Fred Dubois to explore whether she could break the lease early and what the process might involve.

A Practical Solution

Rather than face costly penalties or legal headaches, Fred proposed a simple and effective approach: put the lease back on the market and find a new tenant through a targeted subleasing campaign. With some straightforward advertising and a clear understanding of the lease terms, Fred began the search.

Within a few weeks, a new tenant was found. But rather than go ahead with a traditional sublease, Fred facilitated direct discussions with the landlord, who agreed to a full lease assignment. This meant the new tenant would take over the lease entirely, and Renee would be fully released from her obligations.

The Outcome

The total cost to Renee, including advertising and commission, was roughly equivalent to two months' rent. Compared to being locked into an unsuitable lease for another three years, it was a smart and cost-effective outcome.

Key Takeaway

If you’re a commercial tenant facing a lease that no longer suits your business, you may have more options than you think. With the right advice and guidance, it’s possible to sublease or assign your lease and move forward on your terms.

To explore your options, get in touch with Fred Dubois for honest advice and practical solutions.