making a new lease - regarding term of lease

[cbear59]

michigan. my husband is opening a barber shop. in making the lease out the landlord and he are coming to an agreement about the term of the lease. at the end of one year we would like the option of signing a 5 year lease next time. how does this get worded in the lease? we have stated that we want a two month negotiation period prior to the termination of the one year lease to decide on the extension of a 5 year lease.
thank you.

[Edited by cbear59 on 06-14-2001 at 03:51 PM]

 

[loku]

Extension of lease

Any wording that clearly states what you want would be appropriate, for example, This lease can be extended at the end of the primary term for an additional term of five years by Lessee giving Lessor notice of his intent to extend the lease at any time during the period beginning sixty (60) days prior to the expiration of the primary term and ending on the last day of the primary term.

The landlord would probably not agree to allowing your husband to wait until the last day to extend the lease. usually an extension clause would provide that the lessee could extend "by Lessee giving Lessor notice of his intent to extend the lease thirty (30) days prior to the expiration of the primary term."