If you are looking to sell (or buy) an existing restaurant business, don't overlook the commercial lease assignment. To define this term, a lease assignment is an agreement or procedure that transfers the leasehold interest and obligations from one tenant to another so a new lease does not have to be negotiated. Lease assignments occur most often when a business is sold. To avoid potential disaster, managing a commercial lease assignment must be done effectively and properly. Since 1993, The Lease Coach has been negotiating new leases, lease renewals and lease assignments for commercial tenants. Here are some points for you to consider:
1. What Are You Selling?