By: Thomas Law Group On: July 14, 2022 In: TLG News Comments: 0

Most companies lease their office or practice location rather than own the professional real estate. When leasing commercial property, it is very important for the tenant to understand the terms of their lease, including how long the lease term is and when and how the lease can be renewed, if at all. Often in commercial leases the tenant must give advanced notice to the landlord in order to renew the existing lease. How much advanced notice must be given can vary and is sometimes negotiable when signing the initial lease, but it can be as much as 180 days prior to the expiration of the lease term.

Understanding how much advanced notice must be given, and how the notice is to be delivered to the landlord, is important and must be followed if a tenant desires to continue to lease their space. A tenant that fails to give proper and timely notice or their intent to renew can often find themselves in a situation where the landlord refuses to renew the lease, has already leased the space to a new tenant, or seeks to change the terms of the lease (such as rent).

It is important to be aware of how to renew the lease term and to follow those terms exactly to ensure your company can stay in its location and continue to operate its business without disruption. The attorneys at Thomas Law Group have years of experience reviewing and negotiating lease terms and would be happy to assist with any lease matters you may have.