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The landlord may also impose a new lease on the holdover tenant. For a residential tenancy, this new tenancy is month to month. For a commercial tenancy of more than a year, the new tenancy is year to year; otherwise it is the same period as the period before the original lease expired.
Learn several differences between a lease payoff amount vs. buyout price when leasing a vehicle and explore your alternatives in different leasing scenarios.
Vehicle leasing is the leasing (or the use) of a motor vehicle for a fixed period of time at an agreed amount of money for the lease. It is commonly offered by dealers as an alternative to vehicle purchase but is widely used by businesses as a method of acquiring (or having the use of) vehicles for business, without the usually needed cash outlay.
Car leases usually allow lessees to either return the car, trade it in for another, or buy it at the end of the lease period. Buying a leased vehicle might be the right move for some people, but ...
A tenancy at sufferance (sometimes called a holdover tenancy) is created when a tenant wrongfully holds over past the end of the duration period of the tenancy (for example, a tenant who stays past the expiration of his or her lease). In this case, the landlord can hold over the tenant to a new tenancy, and collect rent for the period the ...
Most lease warranties last for three years, which is also the most common lease period. If your lease ends in three years and your warranty ends in three years, you won't be able to keep the ...