This could be any number of weeks, months, or years. At the end of the term, you may renew your agreement, terminate it, or continue to let the property on a month-to-month basis.įixed Number of Weeks/Months/Years: A fixed number of weeks/months/years means that the property is being let for a certain amount of time. For example, if a letting term lasts for a year and it began on May 1st, it will end the following year on the same date.įixed end date agreements may be for any number of weeks, months, or years. There are three different types of lease terms in a Commercial Lease in order to accommodate different landlord/tenant situations and preferences, including:įixed End Date: A lease term that ends on a set date.
If the Landlord's right of reentry is exercised following abandonment of the premises by the Tenant, then the Landlord may consider any personal property belonging to the Tenant and left on the Premises to also have been abandoned, in which case the Landlord may dispose of all such personal property in any manner the Landlord will deem proper and is relieved of all liability for doing so. If at any time during the Term, the Tenant abandons the Premises or any part of the Premises, the Landlord may, at its option, enter the Premises by any means without being liable for any prosecution for such entering, and without becoming liable to the Tenant for damages or for any payment of any kind whatever, and may, at the Landlord's discretion, as agent for the Tenant, relet the Premises, or any part of the Premises, for the whole or any part of the then unexpired Term, and may receive and collect all rent payable by virtue of such reletting, and, at the Landlord's option, hold the Tenant liable for any difference between the Rent that would have been payable under this Lease during the balance of the unexpired Term, if this Lease had continued in force, and the net rent for such period realised by the Landlord by means of the reletting.
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