Calvin Murphy wrote:I think the rule on commercial tenants is that they have a new tenancy for years for the original length, not to exceed one year. So like...if they had an 8-month tenancy, they will have a new 8-month tenancy. If they had a 5-year tenancy, they will have a new 1-year tenancy.ellewoods123 wrote:thanks!LionelHutzJD wrote:commercial tenant = yearly periodic if prior lease was year to year. monthly periodic if prior lease was month to month (although I still havent seen this in a question, nothing indicates to the contrary).ellewoods123 wrote:holdover residential tenant = held to monthly period tenancy
holdover commercial tenant = held to yearly periodic tenancy ONLY if lease was for more than a year? or held to a yearly periodic tenancy automatically if commercial tenant?
residential tenant = regardless of prior lease, month to month tenancy.
Yeah this is essentially my question. If you have a commercial tenant with a lease period of less than a year - are they still held to a yearly tenancy by Nature of being a commercial tenant? Or only held to yearly tenancy if original was for yearly. (I know that's what you just said lol just making sure we are asking the same thing)
Anyone?