Get Commercial Lease Extension

Can the contractual term of a commercial lease be extended? Yes. Subject to satisfying certain criteria, business tenants have a statutory right under the Landlord and Tenant Act 1954 to extend the contractual term of their lease. At the end of the lease, the tenant can ask the landlord for a new lease.

As a landlord, you can exclude a commercial lease from protection by 'contracting out'. ... The tenant also has no automatic right to renew the lease. If a lease is contracted out, once the end of the term is reached you can choose to renew the rental agreement based on renegotiated terms, such as a rental increase.

When a lease ends, a tenant may choose to move, continue to pay rent as a month-to-month tenant, or sign a new lease. ... In a few states, if a tenant continues to pay rent after a lease expires and the landlord accepts the rent, the lease is automatically renewed.

Unlike residential real estate in which laws generally favor the resident, commercial landlords are not necessarily under the obligation to renew your lease. It could be that they have another tenant or use in mind for your space at the expiry of your term.

Specifically, your right to occupy terminates on the day your lease expires, unless one of two events happens: Your landlord can accept rent after expiration of the lease and thereby convert you to a monthly tenant or you can sign a new lease.

A holdover tenant is a tenant who stays in the rental unit after the lease expires. If the tenant continues to pay rent, the tenancy essentially becomes a month-to-month tenancy. A holdover tenant is legally allowed to stay in the rental unit as long as the landlord takes no action to remove them.

In most situations, a landlord is not required to extend or renew a lease. They can change any of the terms and conditions, including the rent price. They can also end ask you to leave the property when your lease is over and they don't need a reason.

When a lease expires, a tenant may opt to move, renew a lease, or continue to pay rent as a month to month tenant. If you offer a lease renewal, agreement is at the tenant's discretion. If they choose not to renew a lease, they must vacate the property in accordance with the expiring lease.

This means that no one else—especially not your landlord, not a co-tenant or not a subtenant (if you have one)—can renew your lease for you, without your knowledge or consent. Only youcan renew, or cause to be renewed, your residential lease. ... Some leases include an automatic renewal.

Can a landlord ask a tenant to move out when a lease expires? Yes. ... If a landlord would like to end a lease when its term expires, some states require the landlord to give notice to the tenant even though the lease already specifies the termination date.