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Does commercial lease with defined 2 yr term become month to month when renewal was granted in writing for one year?
Colorado Springs, CO
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Posted 25 days ago in Contracts / Agreements
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Tenant requested a new 2 yr lease extension before expiration of the original 2 yr lease. LL granted one year with one year option in a letter issued to tenant for new lease amount along with statement that the original lease terms and conditions remain valid and in full force and effect. Tenant has provided notice to vacate believing tenancy is month to month. LL wants monies for one year. Tenant has paid regularly but never signed anything new - but did request a new lease - not provided by LL til now. Does LL have rights under default section if tenant moves out and quits paying rent?
Answers (1)
Robert John Murillo
This attorney is licensed in Colorado and 1 other state.
Posted 25 days ago.
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The answer depends on the lease terms, the terms of this extension and additional facts. You may be liable for this extension as an oral agreement to extend, assuming you had the terms of a contract.
In short, you need to contact an attorney with commercial lease experience. Making a mistake now will be costly and without review of all the facts and relevant documents it is not possible to answer your question with any basis in authority. Get an attorney now. DISCLAIMER—This answer is for informational purposes only and discusses general legal principles, trends, and considerations and is not intended as specific legal advice regarding your question. This answer does not establish an attorney client relationship. |
