New Jersey Commercial Lease Extension
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How to fill out Commercial Lease Extension?
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FAQ
Yes. Subject to satisfying certain criteria, business tenants have a statutory right under the Landlord and Tenant Act 1954 to extend the contractual term of their lease.
From the filing of the summary dispossession complaint it is not uncommon for a tenant to be dispossessed within 90 days or less.
Non-renewal of the lease after the rental period ends New Jersey law states that landlords cannot evict a tenant or force them to vacate the property without probable cause. As long as the tenant does not violate any rules, they can stay until their rental period ends.
Once the lease expires the landlord may make reasonable changes to the lease. Any changes to a written lease must be in writing and accepted by all parties. A landlord must allow the tenant to renew the lease unless the landlord has good cause for an eviction under the Anti-Eviction Act.
A lease extension refers to a legal agreement that extends the term of an existing lease or rental agreement. The lease extension should name the parties involved, the dates on which the extension begins and ends, and should reference the earlier agreement being extended.
Under this cause of not renewing the lease, a three month notice to quit must be given if an at will tenancy or year-to year tenancy exists. A one-month notice to quit is required for a month-to-month tenancy. lockouts made by the landlord are illegal in New Jersey.