Do you have a "good guy"?
In a “Good Guy Clause,” an individual’s personal liability ends when the commercial space is vacated.
This means that the individual who signed the lease with a “Good Guy Clause” is responsible for the rent in between the default date and the property surrender date when the property is vacated.
This way, the tenant has an incentive to vacate the space if they adhere to the clause and vacate the commercial space.
The legal eviction process can take over a year and during that time the landlord cannot rent the space or recoup any of its losses.
The “good guy” clause acts assures the landlord of financial and legal protection.the “Good Guy Clause” In a “Good Guy Clause,” an individual’s personal liability ends when the commercial space is vacated.This means that the individual who signed the lease with a “Good Guy Clause” is responsible for the rent in between the default date and the property surrender date when the property is vacated.This way, the tenant has an incentive to vacate the space if they adhere to the clause and vacate the commercial space.The legal eviction process can take over a year and during that time the landlord cannot rent the space or recoup any of its losses. The “good guy” clause acts assures the landlord of financial and legal protection.the “Good Guy Clause” In a “Good Guy Clause,” an individual’s personal liability ends when the commercial space is vacated.This means that the individual who signed the lease with a “Good Guy Clause” is responsible for the rent in between the default date and the property surrender date when the property is vacated.This way, the tenant has an incentive to vacate the space if they adhere to the clause and vacate the commercial space.The legal eviction process can take over a year and during that time the landlord cannot rent the space or recoup any of its losses. The “good guy” clause acts assures the landlord of financial and legal protection.