cant pay rent on business

tattycath

transforms wrote: »

I need a lotto win !

don't we all.

paulwf

You need professional advice...none of us can help much without seeing the lease.

However, just as some general advice my opinion is don't stress about it too much at this stage. If you don't have the money then there's a good chance the landlord will soon stop chasing you and cut their loses. That is by no means guaranteed but their best bet will be to terminate the lease and find a new tenant.

Worst case is they chase you for the £2K now they've stated they will accept that. That won't end up in you being bankrupt if you agree a payment plan. So don't stress!

Your best plan really is to work out a long term plan with your landlord. How much will the sinks cost to install? Get a figure and ask for the equivalent in rent free period from your landlord, there is a very good chance they will agree.

The ball is in your court really...the landlord can give you rent free and you spend it on improving the property and get in subtenants to provide a diverse (so much more stable) revenue stream. Alternatively they end up with an empty property which they have to look after, no income and chasing you for money that you don't have.

You really do have the upper hand...stop stressing and sort out a plan!