The typical commercial lease runs for 3 to 5 years, and for retail leases, the term usually runs from 5 to 10 years since the location is essential for the tenant's success. Without a provision for a lease renewal in a lease, a landlord may ask a tenant to leave at the end of the lease term without giving any reason, or the landlord may offer to renew a lease at a much higher rent.
A commercial lease may have language that gives a landlord the right to terminate tenancy if the landlord decides to sell, demolish, or rehabilitate the property; however, depending on the lease provision, the landlord may be required to give the tenant a specified period of time before requiring the tenant to vacate the premises. In some cases, a landlord may offer the tenant money to move before the end of the lease.
If the tenant defaults and fails to pay the fixed rent, or fails to perform other obligations that are required under the lease, the tenant should try to get notice and a period of time to cure their default before the landlord can exercise their right to terminate the lease because of the default.
Once a tenant receives notice from their landlord stating that they have violated the terms of their lease, the tenant has a short window (usually 15 days, again depending on the lease provision) to correct the alleged violation.
If you are a commercial tenant in a commercial building, and your landlord, or a new developer owner is pressuring, cajoling or even harassing you to make a deal or arrangement to move out of your present premises before or after your lease expires, or has served you with a thirty-day notice, demand for rent due, or other notice advising of a date for you to vacate the premises, we can help assert your rights to occupancy of, and rights in, your existing commercial space.
Don't delay. Contact the Law Office of Steven R. Sutton, Esq., 630 Third Avenue, New York, New York 10017, for assistance and a free consultation. Call (212) 696-0090 or email us at sulawman@aol.com. We will fight for your rights! "The Law Firm With a Heart!"