QUESTION
I need to know what lease means when it says "right to Lease".
Asked on Jun 24th, 2013 on Business Law - Florida
More details to this question:
I signed a 1 year lease with 2 5yr options. My business is new and has been slow so I want to move to a better location and the new owner wants to increase my rent $600 more a month. The lease states: " Tenant provides written notice to Landlord of Tenant's exercise of a right to Lease at least 180 days prior to the lease termination date then in effect. Does't this mean I have to tell them if I want to renew. It sounds to me my contract is up at the end of Sept and if I want to renew I have to inform them. Can you please tell me.
1 ANSWER
Without seeing the entire lease (and maybe not even then) I can't be certain, but from what you've written, I believe you are correct. If you want to exercise your option to renew the lease, you have to give the landlord at least 180 days written notice.
Answered on Jun 25th, 2013 at 10:51 AM