We are signing up a tenant who has been on a month-to-month lease after his 1 year lease lapsed in March 2010. This is a commercial building on private property. Can we legally make a lease for less than 6 months? We are also increasing the rent (with a 30 day notice of this rent increase) and wonder if there is a limit on what we can charge (and stipulate in the lease) for late rent payments (he has been late numerous times). Are we within our rights to require another lease agreement after nearly a year of month-to-month rent? This tenant lives out of state but originally rented the building to assemble components used in his business. We have specified in our cover letter that if he neglects to sign a new lease, that we will consider this his 30 day notice (to us) to vacate the premises. Again, are there any legal ramifications to our actions?
Right now eviction is not an option as we can neither afford attorney and court costs to do so, nor allow the building to stay vacant in these less-than-ideal-for-landlords times. We have seen far too many commercial properties remain empty. Please advise. I'm desperate for some guidance here.
Right now eviction is not an option as we can neither afford attorney and court costs to do so, nor allow the building to stay vacant in these less-than-ideal-for-landlords times. We have seen far too many commercial properties remain empty. Please advise. I'm desperate for some guidance here.
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