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Real Estate and Construction. To print this article, all you need is to be registered or login on Mondaq. Renewal When a Lease Deed for a fixed term contains a clause for renewal of the lease for a further fixed term, Parties erroneously assume that by having incorporated a renewal clause, the original Lease Deed would automatically stand renewed for such additional period upon expiry of the initial lease term.
Extension Extension clauses - a distinct category of clauses that relate to consequences of expiry of a lease - are commonly incorporated in Lease Deeds. Holding Over Where parties rely on 'renewal' or 'extension' clauses for lease of the premises beyond the initial lease term, their rights and obligations arise from the written Lease Deed executed by them.
Sunil Tyagi. Anu Chowdhry. This article attempts to highlight the significance of undertaking legal due diligence exercises in real estate transactions and the methodology to be followed. V Ramana of Hon'ble Supreme Court has opined that "a person who asserts possessory title Rental housing being predominantly an urban phenomenon, has been in the need of a uniform regulation for long.
Over the past few years India has emerged as one of the fastest developing country and has witnessed upsurge in the economic activities on the back of significant influx of foreign investments coupled with technological collaborations. Investigation of title is essential to ascertain the ownership of the property and ensuring that, the title is complete Sign Up for our free News Alerts - All the latest articles on your chosen topics condensed into a free bi-weekly email.
Register For News Alerts. Article Tags. NOV Securitisation Outlook and Key Tax Updates for More Webinars. Alternative Investment Funds. Artificial Intelligence. Aviation Finance. Aviation Regulation. Mondaq Advice Centres. Arbitration, Litigation and Conciliation. More MACs. In most situations, a landlord is not required to extend or renew a lease. They can change any of the terms and conditions, including the rent price.
Unless there is a provision in the lease that specifies otherwise, apartment community management is typically within their rights to end the lease at the termination date spelled out in the lease. Depending on the state, the apartment community manager will have to give 30 or 60 days notice that they are not renewing the lease, however.
If you live in an apartment community and your landlord is not renewing the lease because they are renovating your space, ask if you can sign a new lease for a different apartment in the community. This will still require a move, but if you like your apartment community, this might be better than moving to a new one. If the landlord is not renewing your lease because they are selling the property to another company, ask for the name of the company and find out if you can sign a lease with the new owner.
If you suspect that the landlord is not renewing your lease because of actions you have taken or neglected to take , you should discuss this with them directly to see if they will offer you other options besides moving out. Second, if the landlord does finally deliver the renewal lease late — that is, fewer than 90 days before the end of the existing lease — the tenant gets to choose from two dates when the renewal lease starts.
In this case, the tenant can choose either:. This can be an important decision: The rent increase may be lower on the later start date, because the Rent Guidelines Board authorizes different percentage increases every year.
Now, the late renewal lease may contain one of these two appropriate start dates, but it may instead contain some other start date that the landlord has made up. So the tenant needs to:. Some tenants just feel more comfortable with a current renewal lease, or they participate in public benefits programs that ask for a current lease.
Others may follow the procedure outlined above and find that the landlord refuses to sign the renewal lease whose start and end dates have been altered. What to do? The form is simple enough so that the tenant does not need the assistance of a lawyer; the tenant should keep a copy for her records and mail it to HCR via certified mail.
As always, if you have questions about landlord-tenant issues, please feel free to contact me directly.
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