lease renewal - help, quick question. - Posted by bo

import · June 13, 2006, 1:36pm

Posted by Killer Joe on June 13, 2006 at 23:00:37:

Bo,

I have renewed a commercial lease with the simple addition of an addendum stating the new period, and that the original terms remain in force, without the need for notorizing any of the documents. I am happy with the terms, my landlady is happy with the terms, this was a no brainer for us. So yea, it happens. HTH

KJ

import · June 13, 2006, 1:36pm

lease renewal - help, quick question. - Posted by bo

Posted by bo on June 13, 2006 at 13:36:41:

I have a commercial tenant comming up for renewal. His last contract didn’t have any renewal option.

Do I need to:

Draft a new contract for the subsequent term
Or can I just draft a one page addition to the prior contract stating it will be continued for X more years under the same terms.

The latter would make my life easier, as it gives the tenant less incentive to renegotiate prior issues…

Also, do any of you have commercial leases notorized? Is it necessary? I have never done it…