What to do about renew options if a lessee has breached the lease?
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What to do about renew options if a lessee has breached the lease?
We have a lease agreement; the term of the lease is 3 years. The lease also has an option to renew, provided that lessee has faithfully kept and maintained all of the conditions and covenants required. In such event, lessee shall have 4 option periods of 2 years each. As lessor, I would like to not renew lease upon its expiration. Am I legally obligated to give lessee 4 renewal options at 2 years each? Lesse has been habitually late with rent and not honored other conditions of lease.
Asked on March 25, 2013 under Real Estate Law, California
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
One needs to read the lease agreement in its entirety here to be sure about the matter but from what you have said it sounds as if the tenant breached the lease agreement and because you have that clause you have the right to refuse renewal. Make sure that you re read the lease and make sure that you abide by the terms as well (and have in the past) when it comes to telling them you are NOT renewing. I would have a lawyer help you here mainly because the options are really for 8 more years and if it is not done properly you could be stuck with these tenants. Good luck.
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