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For many years I operated a business in California and rented the
premises that my business occupied. My original lease expired a few
years ago and I kept on renting on a month-to-month basis.
Now the property has a new owner who insists that I should sign a
five-year lease agreement. Is this legal, can the new landlord demand
that I sign a five-year lease? And, if we follow this logic, can the
landlord demand, say, on signing a 30-year lease?
Any response will be appreciated.
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conyers_roger@yahoo.com wrote:
For many years I operated a business in California and rented
the premises that my business occupied. My original lease
expired a few years ago and I kept on renting on a
month-to-month basis.
Now the property has a new owner who insists that I should sign
a five-year lease agreement. Is this legal, can the new
landlord demand that I sign a five-year lease? And, if we
follow this logic, can the landlord demand, say, on signing a
30-year lease?
Your old lease may say that it automatically renews for one year at
a time after the original lease terms expires. So at the very most
you have until the end of that one year.
But yes, absent a current lease a landlord can ask you to sign a
new lease or leave. You are not required to agree.
Unfortunately, as a business owner you have no rights in the space
where your business is located other than those rights given in a
current and effective lease.
Stu
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For many years I operated a business in California and rented the
premises that my business occupied. My original lease expired a few
years ago and I kept on renting on a month-to-month basis.
Now the property has a new owner who insists that I should sign a
five-year lease agreement. Is this legal, can the new landlord demand
that I sign a five-year lease? And, if we follow this logic, can the
landlord demand, say, on signing a 30-year lease?
Any response will be appreciated.
On a month-to-month lease, usually either party may cancel the agreement
with 30 days notice, unless otherwise stated in the agreement terms. After
the month-to-month lease has been cancelled, then the owner may make any
demands in a new lease that they want to (unless the new terms are in some
way illegal).
There is nothing illegal about demanding a 5-year or 30-year, or 99-year
lease on a new lease agreement. You don't have to sign it, and you may go
elsewhere to lease property.
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"" wrote in misc.legal.moderated:
Now the property has a new owner who insists that I should sign a
five-year lease agreement. Is this legal, can the new landlord demand
that I sign a five-year lease? And, if we follow this logic, can the
landlord demand, say, on signing a 30-year lease?
Of course it's legal. The landlord can make any demands he pleases;
you can accept, refuse point blank, or make a counteroffer.
--
If you e-mail me from a fake address, your fingers will drop off.
I am not a lawyer; this is not legal advice. When you read anything
legal on the net, always verify it on your own, in light of your
particular circumstances. You may also need to consult a lawyer.
Stan Brown, Oak Road Systems, Tompkins County, New York, USA
http://OakRoadSystems.com
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In article <fr7721p1726rqpdo5o6d3ul56mn55oes3p@4ax.com>,
<conyers_roger@yahoo.com> wrote:
[[ rental property changes owners, new owners demanding long-term lease.
poster asks "is this legal?" ]]
The property owner can "ask" for anything he wants to.
That does *not* mean that he will _get_ it.
However, if he does *NOT* get what he asks for from the current tenant, then
that tenant *WILL* be looking for a new place to rent.
You are, by your own admission, on a 'month-to-month' basis. That means that
*either* party can exit the existing arrangement with a month's notice.
The owner has told you that the 'current arrangement' is not acceptable to
him. You and the owner either *agree* on new terms, or the previously
existing arrangement *terminates*, and you _move_.
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conyers_roger@yahoo.com wrote:
For many years I operated a business in California and rented the
premises that my business occupied. My original lease expired a few
years ago and I kept on renting on a month-to-month basis.
Now the property has a new owner who insists that I should sign a
five-year lease agreement. Is this legal, can the new landlord demand
that I sign a five-year lease? And, if we follow this logic, can the
landlord demand, say, on signing a 30-year lease?
Why not? If she (the landlord) can terminate the lease, she can
demand a long-term lease as a condition of NOT doing so.
--
This account is subject to a persistent MS Blaster and SWEN attack.
I think I've got the problem resolved, but, if you E-mail me
and it bounces, a second try might work.
However, please reply in newsgroup.
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conyers_roger@yahoo.com wrote:
For many years I operated a business in California and rented the
premises that my business occupied. My original lease expired a few
years ago and I kept on renting on a month-to-month basis.
Now the property has a new owner who insists that I should sign a
five-year lease agreement. Is this legal, can the new landlord demand
that I sign a five-year lease? And, if we follow this logic, can the
landlord demand, say, on signing a 30-year lease?
I'm going to assume that the new owner wants you to sign a five year
lease _as a condition_ of continuing to rent the premises. AFAIK the
landlord (original or new) has no right to demand that you sign a 5
years lease for nothing. But he can refuse to continue to rent to you
unless you sign. And yes, he could demand a 30 years lease if he
wanted.
Mind you, I think a 5-year lease is to your advantage unless it comes
with a significant rent increase. The reason is that the long-term
trend of real-estate values (and rents) is upward -- generally keeping
pace with inflation. So if you are given a 5-year lease at the current
rent (or a small increase), you will probably be ahead of the game.
The one time you come out behind is if rents in your area go down and
stay down for several years, *and* you want to move from that location.
Then you would be on the hook for the 5-year term and you might even end
up with a failed business and/or need to file for bankruptcy, when you
might have saved the business (and your credit) if you had been able to
move to cheaper premises.
In most other circumstanes, you come out ahead on a longer-term lease.
--
I pledge allegiance to the Constitution of the United States of America,
and to the republic which it established, one nation from many peoples,
promising liberty and justice for all.
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