What are my rights regarding an automatic lese renewal?
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What are my rights regarding an automatic lese renewal?
I am currently in a 3 year commercial lease that is due to expire in 4 1/2 months. The leasing agency that took over the property a year ago is informing me that my lease has already been automatically renewed because the owner of the property did not receive timely written notice that I would be terminating the lease on the initial expiration date. I never received any type of notice from the landlord or leasing agency regarding this and feel like the terms of the lease are unreasonable based on the fact that they say I should have known 1.5 years into a 3 year lease if I was going to renew or not renew.
Asked on May 14, 2012 under Real Estate Law, Arkansas
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
The first thing that you need to do with respect to the commercial lease that you have written about and the automatic renewal provision is to carefully read the written lease. The reason is that its terms and conditions control the obligations owed to you by the landlord and vice versa in the absence of conflicting state law.
If there is a provision in the lease regarding automatic renewal that you signed, then you are obligated under its terms. If you have missed the time period to end the automatic renewal, then you should have a face to face meeting with your landlord to see if there is some way you can end the lease after the passage of three (3) years.
If he/she is unwilling to do so, I suggest that you consult with an attorney that practices commercial landlord tenant law.
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