Retail leasing FAQ9: I want to sell my retail business. Do I have to tell the landlord?

I want to sell my retail business. Do I have to tell the landlord?

  • Not required to until you have a buyer and wish to seek the landlord’s approval to transfer the lease to the new person
  • Lessor cannot unreasonably withhold approval but are entitled to reject any proposed assignee who doesn’t meet the essential criteria which includes;
    - Substantially the same permitted use
    - Qualified/experienced to operate that type of business
    - Financially able to meet all lease obligations