"To renew the lease" means to extend or continue renting a property for a specific period of time after the original lease agreement has expired.
Full definition
Last year we didn't
renew the lease for the tenant upstairs and we've now built more classrooms upstairs.
You'll have to update the terms of your lease to match the loan term and ensure that you have the choice to
renew your lease on a yearly basis.
Last year a company I've worked with on a number of legal matters signed an agreement to
renew its lease in a small shopping center.
The most important benefit
of renewing a lease is it eliminates the cost of finding a new tenant.
I appreciate that he keeps the rental in good condition, which in turn makes me more likely to want to
renew my lease again the next year.
For instance, you'll want to determine whether or not the land - owner will more than likely
renew the lease once the term expires?
However, at the end of your lease, he's under no obligation to
renew that lease under the current terms and conditions, nor even at all.
Many of the markets seeing the largest hikes for
renters renewing their leases are, not surprisingly, markets where new - lease rent growth is also high.
That's a full two percentage points higher than the 3.6 % increase for
renewed leases within that same time period.
Its a rental house that we've been in for over 2 years and it looks like we need to
renew our lease yet again.
The higher a tenant's Z Score, the more likely the potential tenant will not only pay on time, but honour and
even renew their lease.
You charge a management fee, you charge a leasing fee, a renewal fee, then let
software renew leases for you.
If they do
decide renew their lease, you don't want to have things get off to an uncomfortable start with simmering resentment.
And if they don't get the insurance, I'll throw it in as a bonus when it's time to
renew the lease with an increase in rent.
A few years ago, we had about 10 section 8 tenants, now, we are down to 2 and seriously considering
not renewing their leases.
However, at the end of your lease, he's under no obligation to
renew that lease under the current terms and conditions, nor even at all.
The main risk for Gladstone is Citrix deciding not to
renew the lease as part of a restructuring and / or downsizing.
That lease would have expired years ago, and with it, the obligation embodied in the agreement; the landlord presumably
renewed the lease without a co-signer, in subsequent years.
Renters can save thousands of dollars
by renewing a lease instead of moving to a new rental, according to a recently released analysis by Zillow — a golden opportunity to put savings toward a down payment on a home.
Rodriguez, who came before the Community Board 12's business committee in January, said the landord, Benenson Capital Partners, LLC, wasn't interested in
renewing the lease because «they already had someone that was going to pay them a lot more money.»
Over the course of the campaign, a total of 780 leases were signed, setting the portfolio 40 % ahead in
renewed leases from the previous year and 76 % ahead in new leases, which significantly surpassed the campaign goal of being 100 leases ahead.
By being aware whether or not tenants can continuously afford both the rent and their lifestyle, it is easier for landlords to make informed decisions
about renewing leases, or if it comes to it, making sure they serve notice accordingly.
But tenants
who renew leases typically only need minor improvements to their space, such as new carpeting.
It did not seem to make sense to me that a co-signer could potentially be held perpetually captive if a person were to
continually renew a lease.
• Space for Prime Finance Partners, a private commercial real estate finance company,
which renewed its lease at 233 N. Michigan.
But their business arrangement stipulates they can
only renew the lease on the common premises as the «tenant,» which is both of their professional corporations together.
The chain, which
recently renewed its lease on the theater, has also held onto it so no competitors can come in and take over, the town officials told Business Insider — leaving Celebration residents and those in neighboring areas with the AMC in Disney Springs as the closest option for seeing a movie.
A chastened
Democrat renewed his lease on the White House, humbled Republicans retained their grip on Congress, and a majority of voters stayed home on election day.
The year before that, he was one of only two members to vote against a bill letting
Cheektowaga renew the lease for a golf course on a town park.
It also features some items of local interest, including renovation funding for Ralph Wilson Stadium as part of the Buffalo
Bills renewed lease with Erie County.