The landlord is a party to your deal whether you invited them or not

Buying the assets of a business that operates from leased premises means the lease has to be assigned or a new one signed, and almost every commercial lease requires the landlord's written consent for that. Which makes the landlord a decision-maker in a transaction they are not paying for. They will want to see the buyer's financials, will usually require a personal guarantee, and may use the moment to renegotiate: a higher rent, a longer term, a larger security deposit, or the removal of an option the seller had. Three things to establish before the deal is far along. How much term is actually left, including options — a business with eighteen months remaining and no renewal right is a very different purchase from one with eight years. What the landlord's consent standard is: "not to be unreasonably withheld" is meaningfully better than silence or absolute discretion. And whether there is an assignment fee or a recapture right that lets the landlord take the space back rather than consent. Then the economics. Ask for the full lease with every amendment, and read the operating expense or CAM provisions, the escalation clause, and who is responsible for the roof and the HVAC. A rent that looks reasonable can be joined by a common area charge that is not. Estoppel from the landlord confirming the rent, the term and that there is no default is a normal closing condition and should be asked for. Start the landlord conversation early. It is the item most likely to set the closing date. This article is general information, not legal, tax or financial advice. Rules change and every deal is different — check your own case with a licensed professional. Alberto Zaltzberg — Adonait · adonait.com