lease

[laun_dry_good]

How does your lease agreement say about new lease after expiration of current lease?
no mentioning about it??
if no wording about it, then what will you do if you want to get new lease after current lease?
can you let me know your experience about this?

Thank you,

[JRM]

You need to start negotiating ASAP. If you like your location you need to talk to your landlord about setting up an option or a completely new lease. Everything is negotiable except as a tenant you do not have that much leverage. Pay you rent on time and don't be a problem is a good start.

I would have some sort of plan to discuss with the landlord like you want to invest in your business ie new equipment etc, but can not without additional time on the lease allow a return on the investment.

Good luck, these types of negotiations are key to your buisness to not delay.

Joe

[Winston]

If you have anything other than a 20 year lease, you should always have an option after the expiration of the current lease. Most landlords will allow an option equal in length to the original lease. The terms of the option period should ALWAYS be spelled out in the lease (NEVER stating rent "to be determined"). Even if you have an option, it is best to negotiate a new lease before exercising the option. The newly negotiated lease may have higher rent than the option, but in exchange get a new option tacked on. I would only exercise the option "as is" as a last resort, because in most circumstances you won't get a new option added on.

[Anonymous]

If it does not say it you don't have it ! Thats the bottom line.