This office lease clause provides the tenant with a right of first refusal if additional space becomes available within the building.
Delaware Expansion Option Clause
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FAQ
Tenants can use the Delaware Tenant Notice to Vacate Form to inform landlords and property managers of their intention to vacate the rental property at least 30 days before they intend to move out, or longer if required by the terms of their Delaware Lease Agreement.
In terms of commercial real estate, expansion options provide tenants with the choice to add more space to their rented premises. Typically, this would apply to an office space or retail location where the tenants seek to expand into an adjoining space.
A tenant may terminate a rental agreement by giving a minimum of 60 days' written notice prior to the expiration of the term of the rental agreement that the agreement shall terminate upon its expiration date.
The expansion clause in commercial leases is a negotiable agreement between the landlord and tenant that permits the tenant an equitable right to expand within the building or property they are being leased.
State Laws: When a Guest Legally Becomes a Tenant StateRules on Guests Becoming TenantsColoradoGuests become tenants after 14 days in 6 monthsConnecticutGuests become tenants after 14 days in 6 monthsDelawareNo official cutoff. Landlord must specify guests and tenants in lease47 more rows ?
A tenant may terminate a rental agreement by giving a minimum of 60 days' written notice prior to the expiration of the term of the rental agreement that the agreement shall terminate upon its expiration date.
Tenant Rights to Withhold Rent in Delaware Tenants may withhold rent or exercise the right to "repair and deduct" if a landlord fails to take care of important repairs, such as a broken heater.
§ 5514. Security deposit. (a) (1) A landlord may require the payment of security deposit. (2) No landlord may require a security deposit in excess of 1 month's rent where the rental agreement is for 1 year or more.