Negotiate Tenant-Favorable Holdover Clause with Owner

Negotiate Tenant-Favorable Holdover Clause with Owner

The point of agreeing on a lease term—which specifies the dates on which the tenant may move in and by which the tenant must move out of the space—is to provide both sides with advanced notice so they can make decisions that can have serious financial consequences. When the lease term is nearing its end, the tenant can work ahead of time to find space elsewhere that suits its needs at a base rent it can afford; the owner can line up replacement tenants and prepare the space ahead of time with things like tenant improvements for a new office tenant or retail business.

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