What happens if you do not renew your lease?

They did not formally exercise the right of renewal provided by their lease, but continued to occupy the property and pay rent to the Landlord. The Tenant assumed that the arrangement had become a month-by-month lease, meaning that they could terminate the lease by giving a 20 days’ written notice at any time.

Can a commercial tenant renew their lease after three years?

A commercial Tenant had a right of renewal in their lease after their initial three year term had expired. They did not formally exercise the right of renewal provided by their lease, but continued to occupy the property and pay rent to the Landlord.

Can a landlord give a 30 day notice to end a lease?

The tenant will continue to pay rent monthly until one of the parties decides to end the lease. This means that either the landlord or the tenant can end the rental lease agreement with a 30-day written notice.

What happens if I stay in my apartment past the end of my lease?

In most states, tenants who stay in their rental beyond the end of a lease without signing a new one are automatically shifted to a month-by-month lease. Regardless of your decision, it’s often a good idea to communicate clearly to your landlord — in writing — about your intentions when your lease ends.

Can a lease be renewed at the end of the lease?

RENEWAL. This lease agreement is not constructed to be automatically renewed at the end of the term for which drawn, however, the intent to renew this agreement by the Tenant (s) will be assumed. All parties will need to sign a new agreement in order to activate a renewal term.

What does an end of lease letter mean?

A lease termination letter, or end of lease letter, is a notice provided to the tenant by the landlord to inform them that the lease will not continue after the set end date. As the end of your lease term approaches, you and your tenant may choose to renew for another term or end the lease agreement.

What happens if a landlord does not send a lease renewal letter?

If a landlord does not give the written notice that the lease will not be renewed, a one year lease will transition into a month-to-month lease agreement. This means that either the landlord or the tenant can end the lease agreement with a 30-day written notice. Neither party needs to give a reason for the termination.

When does an apartment community have to end a lease?

Unless there is a provision in the lease that specifies otherwise, apartment community management is typically within their rights to end the lease at the termination date spelled out in the lease. Depending on the state, the apartment community manager will have to give 30 or 60 days notice that they are not renewing the lease, however.