CRE Mistake Series: Mistake – Holding over

CRE Mistake Series: Mistake – Holding over

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%.






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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.