Is there an option to extend the lease?

Doing nothing about extending the lease is certainly an option and were you to live beyond the years remaining on the lease, you wouldn’t necessarily have to leave your home.

What happens when the lease on my House expires?

Reader is worried that when his lease expires his house will be worth a lot less. Photograph: Alamy Reader is worried that when his lease expires his house will be worth a lot less. Photograph: Alamy Q I am 60 years old and, after some hard saving, I am in a position to pay off my mortgage next year, four years early.

How many years are left on a leasehold property?

A With only 35 years left on your lease when you bought the property, I’m amazed that you got a mortgage. Most lenders won’t lend on a leasehold property if there are fewer than 70 years left on the lease.

When do you Lose Your Right to argue the rent?

However, you lose this right to argue the rent if the freeholder serves a notice to bring the lease to an end and you do not respond within two months of the notice being served. You would also have two months to bring a claim to extend the lease although you would lose that right if you failed to act within the two months.

What happens at the end of a lease?

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. If a tenant continues to pay rent after a lease ends, in most states the terms of the expired lease carry over into a month-to-month tenancy.

What should I do if I want to end my lease early?

For the most part, your landlord will hold you to the terms of your lease. So, the first thing to do is consult your contract for details about ending a lease early. Sometimes leases include details regarding adequate notice and termination fees (e.g. two months’ worth of rent).

Can a landlord terminate a lease after 60 days?

Yes. A landlord may choose to terminate a tenancy at the end of a lease. 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. 60 days is usually a sufficient notice for a tenant to search for a new rental.

When does a landlord have to give notice of end of lease?

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. 60 days is usually a sufficient notice for a tenant to search for a new rental. What happens if a tenant continues to pay rent after a lease agreement expires?