CRE Definition Series: Lease Expiration Date

CRE Definition Series: Lease Expiration Date

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.




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About the Author

Lynn Drake’s status is well known in the industry: She’s the commercial realtor focused on maintaining “true north” for her corporate clients. It’s a reputation built on 35 years of commercial real estate experience. Lynn became a commercial realtor in 2001 after 15 years in corporate real estate. Thus far in her career, Lynn has successfully completed over 1,500 real estate transactions ranging from small business tenant leases to the sale and purchase of industrial complexes.