Law & Legal & Attorney Real estate & property Law

Long-Term Lease Agreements

    Features

    • Long-term lease agreements must clearly state the amount of monthly rent due, the date that it is due and any penalties or late charges for delinquent payments. Rules about pets, subletting and other areas must also be clear.

    The Facts

    • A landlord cannot break a long-term leases without a valid reason. Tenants who break long-term lease agreements may be face fines, penalties and legal action, although there are circumstances in which tenants can break a lease without legal penalty.

    Considerations

    • After the lease ends, tenancy will usually continue on a month-to-month basis until the tenant moves out or a new lease is signed.

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