QUOTE(Alidavidsun @ Oct 26 2017, 10:53 PM)
I rented a shoplot for retail business and after about 6 months every month is just losing money. The total sales is unable to cover the rental and employee salary.
So we decided to close the business. However after informing the landlord that we want to stop the rental, the landlord showed us that there was a clause saying we have to pay for the rest of the tenure if we choose to terminate the agreement early. I admit it's my bad for not reading the agreement carefully before signing it. Now they insist we have to pay the rest of the 2 year tenure or get a new tenant.
Anyone experienced this before? What's the solution?
Peruse through the agreement again, does it contained any clause which requires a prior notice for termination? Some standard agreement does comes with it. Upon the service of prior notice, all the deposits are refunded. So we decided to close the business. However after informing the landlord that we want to stop the rental, the landlord showed us that there was a clause saying we have to pay for the rest of the tenure if we choose to terminate the agreement early. I admit it's my bad for not reading the agreement carefully before signing it. Now they insist we have to pay the rest of the 2 year tenure or get a new tenant.
Anyone experienced this before? What's the solution?
Some landlords are "threatening" in nature, they threatened but in order to enforce it, they will need to go through the legal process which is quite tedious. Try to talk nicely with the landlord and gain his empathy. You'll be surprised how sympathetic people can be when they truly understand you nature.
Most importantly, forget your ego and don't be prideful during the negotiation.
By the way, are you renting it under a "Sdn Bhd" or individual?
Oct 30 2017, 04:11 PM

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