[USER]

Looking for advice on a business lease I am currently on as it affects my ability to invest in other areas.

I am a co-signer on a lease agreement with another individual and this lease ends in Feb 2026 with the option to renew.

The space has a waiting area and two offices. We each have our own office and share the waiting area.

I am no longer operating my business in the space and want to relinquish my part of the lease to another individual who is currently subleasing from me a few days a week.

The main issue is that my co-leaser *thinks* they want to take over the whole lease, but doesn’t have a timeframe of when they’d like to.

The subleaser is ready to take my part of the lease now.

My co-leaser does not want me to give my half of the space up because they might want it “soon”.

I am losing hundreds of dollars each month by keeping this lease under my name that I could be investing if I allowed my subleaser to take over.

I’ve reached out to the landlord and leasing agent for guidance, but wanted to get other people’s opinions.

Do I have any rights as a co-signer on the lease to move forward with my sub-leaser taking over my portion of the lease/rent?

Do I sit back and let the co-leaser tell me if/when they want to take over the lease?

Any advice on how I can mitigate the money lost in this scenario? Thank you!

Edited: the landlord is happy to let me out of my half of the lease and sign the new person, but doesn’t know if he legally can do that without my co-leaser’s approval.

[Enilda]

If market rent has increased, you can sublease to the sublease tenant at a higher rate and have a sandwich lease, which gives you a little profit for being in the middle of it all.

If the co-tenant identifies when he would like to take over the space, you could sublease the space for a shorter term to allow your co-tenant to take over the entire space.

Currently the space is of no use to you, because you have moved your business. However, is your lease there in your personal name or in your business’ name?

But I don’t see how it’s costing you hundreds of dollars to remain on the lease, when you have a sublease. To me it looks like a wash.

[Bill]

Does your lease allow subleasing? That’s not the same as replacing you on the lease.

That is, you continuing to be legally responsible for the lease but letting someone else use the space and pay you.

If not, you are kinda screwed . You aren’t getting out of the lease unless all parties agree.

You can always offer to pay the coleaser for his cooperation, but you don’t have a lot of leverage to make him do anything.

[Brian]

If you are able to sub-lease, cash in hand wins. Tell that to the other owner. Why hold on to it for a whim?

[Author]

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