My current lease expires on a certain date. What happens if my new space is not ready by that time?
This is a very dangerous situation. Typically, your current landlord will charge you a “holdover” rent equal to 150% to 200% of your current rate. However, in the worst case, the landlord has the right to evict you within give a relatively short due process. Your tenant representative should address this issue very early in the process with your current landlord if it is anticipated that such a problem might arise.
Related Questions
- I understand that Bikram cannot offer franchises in certain states at this time. What happens if I operate a studio in one of those states?
- My current lease expires on a certain date. What happens if my new space is not ready by that time?
- What happens if a NAFTA Certificate of Origin form is not ready at the time of importation?
