This office lease clause provides the tenant with a right of first refusal if additional space becomes available within the building.
Expansion Option Clause
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Multi-State
Control #:
US-OL24032
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FAQ
A holdover tenant is a renter who remains in a property after the expiration of the lease. If the landlord continues to accept rent payments, the holdover tenant can continue to legally occupy the property, and state laws and court rulings determine the length of the holdover tenant's new rental term.
To evict a hold over tenant, the landlord must treat the tenant as a trespasser who does not have permission to be on the property and who is acting wrongfully by staying on the property from the moment the lease ends. The best way to deal with a trespasser will depend on the laws of your state and locality.
Make good refers to the clause in a lease that set out how a tenant should leave a property when the lease comes to an end, whether by the expiry of the term or earlier termination. Make good is one of the most commonly disputed provisions of a lease.
Holding over is simply a tenant remaining in occupation of premises once the original term of their letting has come to an end.
Make Good Costs means the reasonable costs required to repair the Facility and return it into a useable area based on a like for like replacement of any damaged materials.
A make good obligation requires you, the tenant, to leave your business premises in a certain condition at the end of the lease. Most commercial leases contain this obligation. Typically, make good will require you to remove your shop fit out when the lease is over, but it can reach much further than that.
A holdover clause simply states that if a. tenant remains after the lease expires, the tenancy becomes month-to-month. at the increased rental rate.
A commercial make good provision is a clause in a lease that requires a tenant to return a property to its original condition before handing back the keys. As part of the make good, tenants are usually required to remove their property from the space and leave the area clean and tidy.
A hold-over clause in a commercial lease typically provides that if a tenant remains in possession of the leased premises after the expiration of the stated lease term, the tenant must pay rent to the landlord in an amount substantially in excess of the rental rate at the end of the term often as high as 150 percent