The Lease Was Signed, And The Tenant Ran Off?

I spoke with a friend who had a lease renewal signed with his tenant. It is a property out of state and he just received some interesting news today.
The tenant has notified him that she cannot handle the lease on the building anymore because her business is not making sufficient income to support the rent. The tenant has given notice to break out of the lease by the next month and this is the lease that was just signed last month. If she had known she has financial problems, then why did she even bother signing the lease renewal? The circumstances surrounding these sequence of events was very unusual and appeared rather suspect.
The renewal lease was for a 3 year term on a salon space in a commercial building. All the signatures were on the final draft of the lease renewal. Here is the interesting piece to it. The property manager who is managing the unit indicates that he heard "through the grape vines" that the tenant was looking at another place down the street. However, she probably found it one week too late since she had just signed the lease renewal for 3 more years. The line of reasoning that the tenant used for her change of heart was by any measure very hard to swallow.
The tenant had indicated she wanted to abruptly cancel the lease and notified the property manager via email. The name of the tenant on the lease is an LLC and not her personal name since she is operating under the business name.
How many options does the owner of the building have? Can they pursue this and get a judgment and go after the tenant personally to recoup the loss damages since she plans on vacating the unit by the end of the next month? How would you resolve this issue or do you know of someone who has gone through this?
In most states, provided that the lease is valid, the law would require that the tenant be responsible for the lease and the costs of advertising until the term of the lease is up or until a new tenant is found. In the meantime, do some investigation and find out the real reason why the tenant has suddenly decided to terminate the lease. Let the tenant know that they can break the lease, but they are responsible for the rent until new tenants are found and start paying rent. Furthermore, it is advisable to begin advertising right away to get a new tenant in place.
It is at times like this where having a security deposit collected comes in handy since you can deduct the expenses incurred by the owner from the security deposit. If it gets to the point, then proceed with filing a small claims case or a lawsuit against the tenant to recover the costs of the lost rents. After all, a contract is binding to all parties and there are penalties involved for those who break the contract.

Article Source: http://www.ezx-articles.com

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