Obtain Landlord Consent for a Business Transfer

Read the assignment clause before marketing

A location dependent business needs a usable lease. Review assignment, renewal, rent changes and consent requirements before promising the buyer uninterrupted occupancy.

Ask what information the landlord will require from a buyer and build that review into the timetable. Approval may take longer than the buyer and seller expect.

Separate assignment from release

A lease assignment does not necessarily release your personal guarantee. Ask counsel to negotiate and document any landlord release you need.

If the lease is informal or close to expiry, explain the uncertainty early. A lender may assess the remaining term differently from an owner who has always renewed without trouble.

Keep the property economics realistic

When you own the property, assess a market rent arrangement rather than using a very low related party rent to inflate operating profit. Business value and property value need separate analysis.

Compare selling the building with retaining it as landlord. The choice changes your ongoing responsibilities, income and exposure to the buyer.

Put agreed premises terms alongside the offer before a full contract is finalized. A strong price can become unusable if access to the location is unresolved.