A Holdover Clause is a clause in a contract that allows a tenant to remain in a rental property after the initial agreement has expired, typically with the same conditions as the expired agreement. This clause can be included in a lease agreement, rental agreement, or other type of tenancy contract. There are two types of Holdover Clauses: automatic and voluntary. An automatic Holdover Clause is invoked when the tenant stays in the property after the contract has expired. A voluntary Holdover Clause is invoked when both the tenant and the landlord agree to extend the existing lease agreement. In either case, the terms of the original agreement will generally remain in effect until a new agreement is made.
Holdover Clause
Instant download
Description
Example of clause regarding Holdover of property by Tenant. A hold-over clause in a commercial lease typically provides that if a tenant remains in possession of the leased premises after the expiration of the stated lease term, the tenant must pay rent to the landlord in an amount substantially in excess of the rental rate at the end of the term – often as high as 150 percent
How to fill out Holdover Clause?
Coping with legal documentation requires attention, accuracy, and using well-drafted blanks. US Legal Forms has been helping people nationwide do just that for 25 years, so when you pick your Holdover Clause template from our library, you can be sure it meets federal and state laws.
Working with our service is simple and fast. To get the necessary paperwork, all you’ll need is an account with a valid subscription. Here’s a quick guideline for you to get your Holdover Clause within minutes:
- Make sure to carefully examine the form content and its correspondence with general and law requirements by previewing it or reading its description.
- Search for an alternative formal blank if the previously opened one doesn’t suit your situation or state regulations (the tab for that is on the top page corner).
- ​Log in to your account and download the Holdover Clause in the format you prefer. If it’s your first experience with our service, click Buy now to continue.
- Register for an account, decide on your subscription plan, and pay with your credit card or PayPal account.
- Decide in what format you want to obtain your form and click Download. Print the blank or upload it to a professional PDF editor to submit it paper-free.
All documents are created for multi-usage, like the Holdover Clause you see on this page. If you need them one more time, you can fill them out without re-payment - just open the My Forms tab in your profile and complete your document whenever you need it. Try US Legal Forms and accomplish your business and personal paperwork quickly and in full legal compliance!
Form popularity
FAQ
Which of the following is TRUE about a holdover tenant? The landlord must accept additional rent if the tenant remains on the premises.
For example, a typical hold-over clause may simply state that if the tenant holds over after the expiration of the lease term, the tenancy becomes a month-to-month tenancy at the increased rental rate.
During the holding over period, although the lease has expired, the terms are still in effect. This means the tenant has to meet all the obligations of their lease, including maintaining the premises and making all payments, including rent, unless there is a written agreement to vary the terms of the lease.
A holdover clause is a provision in a lease agreement that allows the landlord to charge a higher rent or take other actions if the tenant stays beyond the lease term without renewing or terminating the contract. This clause can help the landlord protect their property rights and avoid losing income from a vacant unit.
Holdover tenant refers to a renter staying in the property after their lease terminates without signing a new lease. In this situation, the landlord may take steps to remove the tenant from the property or bind the tenant to a new lease.
Sample holdover clause in a real estate agreement During such tenancy, Tenant shall be bound by all of the terms, covenants, and conditions mentioned herein, except Basic Rent, which shall be one hundred fifty percent (150 percent ) of the Basic Rent due before the term's expiration.
One of the most important clauses to negotiate in a commercial real estate lease is the holdover clause, sometimes called the holdover provision or the holdover rent clause.
More info
Tenant is not authorized to hold over beyond the expiration or earlier termination of the Lease Term. A holdover provision provides landlord a remedy in the event the tenant remains in the leased premises, or 'holds over,' after the end of the lease term.The holdover clause, also known as the holdover rent clause, is one of the most significant terms to negotiate in a real estate agreement. A holdover clause protects landlords if tenants fail to vacate their space promptly upon the lease's termination date. A holdover tenant is a tenant who continues to pay rent, even after the lease has expired. The landlord must also agree, or else eviction proceedings may occur. A holdover clause states that if a tenant has to pay an elevated amount of rent if they do not vacate the space until after the lease termination date. A Holdover clause is common in a commercial lease. The Holdover clause addresses what occurs if a Tenant remains in the premises after the expiration date of a lease. Indemnity clauses could lead to the tenant paying the landlord for living on the premises during a wrongful holdover.
