Updating post from Reddit.
Hello after some help and opinions please
commercial tenant in England in arears, want opinions on letting his cousin takeover lease.
For some context 2 months in arears and insurance to pay so basically 3 months in arears. Cousin is willing to sign for any debts to date and pay in a couple weeks before he is granted a new lease. Lease still has 9 years on it.
Area is in London but not the easiest to find decent tenants
There are 2 extra gurantors on lease aswell as leesee am i correct in thinking if Bailiff evict can still go after all 3 for remaning lease ?
The rules on commercial leases are different from residential tenancies, most people here are residential landlords. You would be well advised to consult a solicitor who specialises in commercial leases before agreeing to anything.
yes ofcourse definately will get solicitor involved but just wanted opinions and ideas too. sometimes even solicitors miss easy options etc