Lease definition

The additional time-period after a lease term expiration.

Internal Headline

Give yourself a little extra time at the end of the lease.

Why it’s in the lease

To provide for unforeseen circumstances for both tenant and landlord.

Risks to the tenant

Knowing there is this time extension right, a tenant may be unconcerned about making another commitment.

What it means to the tenant

The right to hold over gives a tenant extra time, in case it is needed.

Points of negotiation

The holding over rent penalty and time extension are usually negotiable.

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