I have a business and I need a break

You operate your business in premises owned by you and for a period of time you will not be able to dedicate yourself to it, although you intend to resume it later. What can you do to not interrupt the activity, maintain the business, and avoid losing customers?

Well, if you want to take a break and need someone to keep the business running, a commercial lease may be a good option. In this type of lease, you transfer the physical space of the premises, the assets, and the organization for the operation of the business and, in return, you receive a rent, which can consist of a fixed amount or a combination of a fixed and a variable part.

If you are considering formalizing a commercial lease agreement, take into account the following issues:

• You can agree on the duration you consider appropriate, and even establish the possibility of extensions (indicating their duration).

• Unless otherwise agreed, the landlord must hand over the business and other elements - make an inventory -; likewise, during the term of the contract, they must collaborate to facilitate the development of the activity (provide reports, accounting, customer lists...), and make the necessary repairs for the preservation of the premises (replace a machine, repair dampness...), provided that the deterioration is not attributable to the tenant. The tenant, on the other hand, must operate the business as agreed, maintain it, and return it at the end of the contract.

• If there are existing contracts (suppliers, supplies, workers...), analyze them individually.

• In a commercial lease, it may be considered that there is a "succession of business", so you would also be responsible for any salary debts and Social Security debts incurred by your tenant.

• You may also be held responsible for taxes related to the activity that have not been settled.