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In the Spotlight: Holdover Tenancies
Whether blinded by the glow of new business or fatigued by a lengthy and intense negotiation of terms, landlords entering into commercial leases are not often keen to focus on events that may occur at the end of the term. Pen in hand, landlords are usually anxious to settle in to what promises to be a long-term, mutually beneficial association. However, tenants that fail to vacate their premises at the expiration of the term can cause significant damage to the economic health of a commercial property, and landlords should take measures to protect themselves against such damage and ensure a seamless transition from one tenant to the next.
Why Hold Over?
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