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Holdover Tenancies (Revisited)

Holdover Tenancies

Last year, I wrote the following blog entry on holdover tenancies and the right of the landlord to collect an increased rent rate during any holdover period:  http://rrlawaz.com/2010/07/holdover-tenancies/   The increased rent rate is typically 125% – 200% of the last month’s rent rate.

From the landlord’s perspective, the right to collect increased holdover rent serves two primary purposes: (1) the increased rent allows the landlord to recapture some of the damages associated with a tenant’s failure to timely surrender the premises, and (2) the increased rent provides a disincentive to the tenant to wait until the end of the lease term to negotiate for a lease extension.  Both of these purposes assume that the tenant is not welcome to continue as a month-to-month tenant upon lease expiration and that the landlord has a tenant ready to move into the premises upon lease expiration.

Read the rest of this entry at: http://rrlawaz.com/2011/07/holdover-tenancies-revisited/

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