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Reply To: HiMy name is Ben, who is the owner of small company in Auckland. Our business is international education agent mainly for Japanese market. As you know that our industry depends on NZ border which still remains close.However, our main concern is the high rental cost for our office in the middle of Auckland central. We still have almost 1 year term remaining to terminate. We asked the building owner to terminate our contract with 2 months rental penalty. but no answer for a long time.We would like to seek some information or good ideas to terminate our contract term and move out current office as soon as possible to service our business.I would really appreciate it if you could help our situation.Kind regardsBen Tokunaga

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Marcus has hit the nail on the head here Ben. His response summarises the options you have at your disposal. Incentivising potential tenants with an abatement on the rent, or prior access, or possible fit-out/furniture etc. are all good carrots to dangle. Don’t be afraid to provide your preferred agent/s with funds to further promote or advertise your property through online and social platforms. You may instead prefer to promote the property yourself, but be aggressive on both the promoting of your tenancy and the price you would accept to surrender the lease in terms of a surrender fee/agency fees/landlord legal fees/all of the above. Keep close communication with your landlord, I suspect the radio silence is your landlord also knows that a replacement tenant may be hard to find and would prefer to retain the status quo scenario of you fulfilling your lease obligations. Your Landlord cannot unreasonably withhold a new tenant from taking over all, or part of the space so you may look to even carve up your tenancy into smaller offerings in the hope of attracting more tenants, or even a smaller subtenant to help subsidise your lease commitments. Failing this, speak with your solicitor and have them review the lease to check how water tight it is. All the best.