Our lease is ending December 31 of this year and we are thinking about buying a house to use for the business instead of renewing this lease. I have checked the lease over and over and can't find anything that says we have to give some kind of notice like 30 or 60 days. If it's not in the lease, are we required to give some type of notice. We aren't trying to be shady, we just don't know what's going on with the house.
2006-09-29 05:29:52 · 7 answers · asked by That Guy 4 in Business & Finance ➔ Renting & Real Estate
If there's no clause in the lease, I'd say (guess) no, but you're best to check the laws in your jurisdiction. There may be laws that protect the landlord (now THAT would be first!) that you must follow regardless of whether or not it's stated in the lease.
Of course, regardless of the law, the RIGHT thing to do is to notify your landlord once you know you're going to be leaving. That gives them the opportunity to market the property and reduce the time it might stand vacant - and doesn't burn any bridges you might want to use later.
2006-09-29 05:33:19 · answer #1 · answered by DidacticRogue 5 · 0⤊ 0⤋
The phrase you should look for in the lease is "Automatic Renewal". They are rare, but do exist. If you see it, then you probably need to give notice.
Also look for the phrase "Holdover Clause". If this is part of your lease, then you most likely do NOT have an automatic renewal, as it states that if you don't leave, you can be 'kicked out' at any time by the Landlord, and perhaps pay higher rent (sometimes an automatic 150%).
Everyone else is right, though... it should be spelled out in the lease. If not, the Landlord will have a hard time proving anything in court. But who wants to end up there?
2006-10-02 20:24:09 · answer #2 · answered by envision_man 2 · 0⤊ 0⤋
You could try your Fair Housing dept. They'll look the lease over for free and give advice. Also, do you know if the house is zoned for commercial use? Here in Napa, CA, it's very common to have beautiful houses converted over for commercial, but they have to have zoning approval first.
Just something to keep in mind.
2006-09-29 14:09:03 · answer #3 · answered by chefgrille 7 · 0⤊ 0⤋
Give appropriate notice. You may not see all the small print or understand common law regulations governing the matter.
Of course, you can also consult with a locally licensed real estate agent to get an informed opinion.
2006-09-29 12:47:01 · answer #4 · answered by ElOsoBravo 6 · 0⤊ 0⤋
Check the laws in your state.
why don't you just tell them the truth. If you are not sure about,
when you are leaving. If they have been a good landlord, they
deserve the respect of you, being honest. I believe in life being
honest and up front will always get you further life.
2006-09-29 12:43:31 · answer #5 · answered by wHaT eVeR 7 · 0⤊ 0⤋
It would depend on the laws in your state. It probably a good idea to give notice. On the other hand the landlord will probably be letting you now anyway.
2006-09-29 12:33:39 · answer #6 · answered by WJVV 4 · 0⤊ 0⤋
As long as there's nothing in the lease...and you're not breaking the lease.
When the time gets closer they'll probably ask you if you want to renew.....if not, they assume you're going to get out.
2006-09-29 14:24:45 · answer #7 · answered by Anonymous · 0⤊ 0⤋