Lease Expiration Date:Most leases have a start and an end date spelled out in a lease document. The last day of the lease should be clearly defined in the signed lease agreement. The tenant must be out of the space on the last day of the lease, or they may have to pay additional rent and hold-over fees. Sometimes these fees cost the tenant 200% of the rent for staying one day longer than they should.
This post originally appeared on tBL member Lynn Drake's blog Compass-Commercial Blog | Expert Commercial Leasing Advice and is republished with permission. Find out how to syndicate your content with theBrokerList.