When should you renew lease?
When should you renew lease?
Page Contents
As a general rule of thumb, if the lease is less than 90 years you should almost certainly try to extend it because: Properties with shorter leases are less valuable than ones with long leases (this is particularly true if leases are below 80 years)
When does the lease on my apartment expire?
Our current lease expires May 31. We’re thinking of buying an apartment, but due to some upcoming travel won’t be able to close until around the end of June. Obviously, we don’t want to extend the rental contract by another year, and are thinking of asking the landlord to let us stay for one or two months, until, say, end of July.
Can a holdover tenant stay after the lease expires?
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.
Can a landlord extend the term of a lease?
If the language of the lease says that after expiration of the original term the parties have the right to extend under the same terms, acceptance of rent by the landlord extends the lease and all its terms including length of tenancy. In such a case no tenancyatwill is created.
When does a lease end without a renewal?
Generally, where the lease requires a renewal (a new contract) at end of the term, and the term ends without such a renewal, the tenancy has terminated. However, if the landlord has accepted rental and permitted the tenant to remain, a tenancyatwill has been created.
Our current lease expires May 31. We’re thinking of buying an apartment, but due to some upcoming travel won’t be able to close until around the end of June. Obviously, we don’t want to extend the rental contract by another year, and are thinking of asking the landlord to let us stay for one or two months, until, say, end of July.
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.
Can a landlord evict you before the lease expires?
A landlord generally faces an uphill legal battle if he or she decides to end the rental arrangement or end the tenant’s occupancy before the lease expires. Yes, a landlord may evict a tenant for many reasons, but he or she must go through the proper legal channels and give the tenant a 30-day notice.
Generally, where the lease requires a renewal (a new contract) at end of the term, and the term ends without such a renewal, the tenancy has terminated. However, if the landlord has accepted rental and permitted the tenant to remain, a tenancyatwill has been created.