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Comm Lease, bldg being sold

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Dr Jonathan

Guest
I am a physician renting a condo-style space in a shopping center. The next door business neighbor has offered the owner $30K more than asking price to expand and the owner has agreed to sell. My 2 year lease expires 10/31 with a 90 day to 90 day continuance without specific notification. It has been understood in all friendly contact with the owner that my intention has been to stay on until I could afford to purchase, (and stupidity let me believe I has a 3 year term) I never officially gave a written intent to renew (thought I had another yr, my bad), but the lease stipulates 90 day prior to lease expiration notification of intent to renew on both parties. They let me know in writing last week that I now had 90 days to get out - 2 months after lease expiration date of 10/31. They will go to settlement 3rd of Jan '01. The lease is in excessive double talk and of course primarily protects the owner.
My main questions concern my responsibility. I have found a suitable location to move my practice to whcih is available immediately. There seems to be no stipulations in the lease for notifications once the lease expires, and, now that I have been given notice to leave, can I get out at any time? What will I be responsible for as far as rent to them? They have my security deposit, how soon can I expect it? (The place is immaculate, beautiful, and a source of pride to the community as well as the owneres and new owner) They have been very friendly and appreciative of my tenancy these past two years, but are no longer such in the view of the mighty dollar. Any input will be appreciated. Thank you.
 


HomeGuru

Senior Member
<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Dr Jonathan:
I am a physician renting a condo-style space in a shopping center. The next door business neighbor has offered the owner $30K more than asking price to expand and the owner has agreed to sell. My 2 year lease expires 10/31 with a 90 day to 90 day continuance without specific notification. It has been understood in all friendly contact with the owner that my intention has been to stay on until I could afford to purchase, (and stupidity let me believe I has a 3 year term) I never officially gave a written intent to renew (thought I had another yr, my bad), but the lease stipulates 90 day prior to lease expiration notification of intent to renew on both parties. They let me know in writing last week that I now had 90 days to get out - 2 months after lease expiration date of 10/31. They will go to settlement 3rd of Jan '01. The lease is in excessive double talk and of course primarily protects the owner.
My main questions concern my responsibility. I have found a suitable location to move my practice to whcih is available immediately. There seems to be no stipulations in the lease for notifications once the lease expires, and, now that I have been given notice to leave, can I get out at any time? What will I be responsible for as far as rent to them? They have my security deposit, how soon can I expect it? (The place is immaculate, beautiful, and a source of pride to the community as well as the owneres and new owner) They have been very friendly and appreciative of my tenancy these past two years, but are no longer such in the view of the mighty dollar. Any input will be appreciated. Thank you.
<HR></BLOCKQUOTE>

Your lease does not fall under the residential L/T laws but rather the commercial real estate laws. As a medical professional, you should contact a legal professional to help you as the respective and applicable laws need to be applied and the attorney needs to review the language in your lease agreement.
I would think that an attorney would seek medical help when needed rather than play doctor.
 

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