This office lease provision lists the conditions under which the landlord shall accept surrender and the lease shall be deemed terminated.
Delaware Conditional Limitation of Tenant Liability Good Guy Provision
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FAQ
A typical good guy guarantee requires a creditworthy tenant (usually principal in the tenant's business) to guarantee the rent obligations under the lease through the date the tenant surrenders the leased space back the landlord. Good guy guarantees in lease agreements are personal guarantees that are limited.
§ 5514. Security deposit. (a) (1) A landlord may require the payment of security deposit. (2) No landlord may require a security deposit in excess of 1 month's rent where the rental agreement is for 1 year or more.
Delaware Renters' Rights and Landlord Responsibilities Raising Rent ? Landlords in Delaware may increase the rent to any amount for any reason with a 60-day notice. Notice of Entry ? Delaware requires a 48-hour notice from the landlord before entering the unit or property.
Delaware landlords cannot raise rent during the lease term unless the lease agreement allows for it. Additionally, if the rental property is a mobile home, rent increases are limited to once per year. Landlords must provide 60 days' notice before raising rent, and for mobile homes, a 90-day notice is required.
State Laws: When a Guest Legally Becomes a Tenant StateRules on Guests Becoming TenantsColoradoGuests become tenants after 14 days in 6 monthsConnecticutGuests become tenants after 14 days in 6 monthsDelawareNo official cutoff. Landlord must specify guests and tenants in lease47 more rows ?
The Delaware Notice to Vacate Form must contain the date on which the Notice to Vacate is given, and the time frame in which the rental property should become vacant. Specific details must be clearly stated on the notice, so the other party has reasonable awareness about their responsibilities.
§ 5106. Rental agreement; term and termination of rental agreement. (a) No rental agreement, unless in writing, shall be effective for a longer term than 1 year.
A Good Guy Clause, (?GGC?) is a lease provision typically found in commercial leases that allows a landlord to release a tenant from liability in the event the tenant does not complete the lease period.
