Lease Agreement With No End Date
Description
How to fill out Lease Agreement - Office Space?
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FAQ
Often the lease is for the same term, which could be five, ten or twenty years. Other automatic-renewal clauses will extend the lease from year-to-year. Usually, the rent will continue at the same rate. Sometimes, the rent will be adjusted by some formula, such as a change in the Consumer Price Index.
So do you HAVE to renew your tenancy agreement every year or not? The short answer is no, you do not HAVE to renew every year but you may WANTto. At the end of the fixed term your tenancy will become periodic.
If the agreement is for a fixed term, a tenant has the right to leave on the last day of the fixed term without giving any notice. If they stay even one day over the fixed term, they will automatically become a periodic tenant and will have to give proper notice unless the landlord agrees to them leaving.
If your agreement says you can end your fixed term tenancy early, this means you have a 'break clause'. Your tenancy agreement will tell you when the break clause can apply. For example your break clause might say you can end your tenancy 6 months after it starts if you give 1 month's notice.
If there's no break clause in your agreement, you can't leave your tenancy early unless your landlord agrees. If you need to leave your tenancy early, perhaps because of a change of circumstances, speak to your landlord and put your situation to them.
