Michigan Expansion Option Clause

State:
Multi-State
Control #:
US-OL24032
Format:
Word; 
PDF; 
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Description

This office lease clause provides the tenant with a right of first refusal if additional space becomes available within the building.

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FAQ

The requirements of the tenant's notice to quit are (a) that it be in writing, (b) that it express an intent to terminate the lease, (c) that it be delivered to the landlord or his agent, and (d) that it include a copy of military orders giving rise to the right to terminate the lease, or a notification from the SM's ...

Active Military Duty This act protects members from the date they start their service until 30-90 days after they get discharged. Tenants who use this act to end a lease agreement must send proper notice to their landlord, as well as a copy of the deployment or any other applicable letter/document.

Breaking a Lease Early Active Military Duty. People starting active military duty can get protected under the Service members Civil Relief Act (SCRA). ... Early Termination Clause. ... Landlord Harassment. ... Uninhabitable Unit. ... Domestic Violence. ... Senior Citizen Cases or Qualified Disabilities.

The Michigan Truth in Renting Act regulates residential leases ? prohibiting certain clauses or provisions and prescribing penalties. A provision or clause in a lease that violates the Truth in Renting Act is void.

A military clause is a provision included in a residential lease that allows military personnel to break a lease agreement and have security deposits returned if they are called to duty or must relocate due to connected service activity.

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.

The landlord serves the tenant with the notice when they have not paid the appropriate rent. The tenant has 7 days to pay or vacate the property. If this does not happen then the landlord can file a lawsuit and a hearing will be scheduled.

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.

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Michigan Expansion Option Clause