I presume from your facts that you failed to exercise the 5-year renewal option on your lease within the time frame required by your lease, and that your right to exercise the renewal option has expired or ended, such that you are now on a month-to-month tenancy. If so and if you have no further renewal option that you can exercise, then you are fortunate that the landlord has offered you any compensation to leave. Pursuant to Florida Statutes 83.03, a non-residential month-to-month tenancy can be terminated upon not less than 15-days written notice prior to the end of the month. This conclusion would be different, however, if there are additional lease provisions that you have not mentioned in your facts that you believe entitle you to compensation even after the lease has expired. This also presumes that the renewal provision contains the typical requirement that it is up to the tenant to remember to exercise the renewal option and take the appropriate action or else lose that option to renew.
If the landlord does not have another tenant prepared to rent the space, I suggest you immediately attempt to negotiate new lease terms with the existing landlord or find new space from which to operate your business.
The foregoing is specific to the law and procedure in Florida. This response does not constitute legal advice as the facts presented are limited and unstated facts will likely impact your particular situation. This response is intended for general education only and does not create an attorney-client relationship. Please schedule a consultation with a local attorney for more specific and detailed answers to your legal issues.
Answered on Oct 01st, 2012 at 10:15 AM