CRE Mistake Series:
Staying past the lease expiration date Every written lease should have a start and end date. Sometimes a locations improvement isn’t completed in time, so the start date will shift. Usually a commencement letter is signed acknowledging the new start date. Most leases have a holdover fee clause. This means the landlord has the right to charge tenant an additional fee as defined in the lease. It is crucial that you know the true lease expiration date. The fees usually are between 25% up to a 100%.