This office lease provision states that the landlord has the right to cancel the lease after the expiration of the first sixty (60) months of the initial term of the lease by giving the tenant at least one hundred and twenty (120) days prior notice of such cancellation.
If you are a landlord in the state of Arizona, it is important to understand the Simple Cancellation Provisions that apply to you. These provisions give both landlords and tenants the opportunity to terminate a rental agreement under certain circumstances. Let's explore the different types of Arizona Simple Cancellation Provisions for Landlords: 1. Casualty or Condemnation: Under Arizona law, a landlord has the right to cancel a rental agreement if the property is destroyed, to a significant extent, by fire, flood, or other casualty. Similarly, if the property is condemned due to health or safety reasons, the landlord can terminate the tenancy. 2. Noncompliance by Tenant: If the tenant fails to comply with the terms of the rental agreement or violates any applicable laws or regulations, the landlord may provide a written notice specifying the noncompliance and their intention to terminate the tenancy. The tenant is then given a specified period to rectify the violation or face eviction. 3. Materially False Information: Should a tenant provide materially false information on their rental application, such as incorrect income verification or misleading rental history, the landlord may choose to cancel the rental agreement. 4. Mutual Agreement: In some cases, both the landlord and the tenant may decide to terminate the rental agreement early. This can happen when, for example, the tenant needs to relocate for work or personal reasons. The parties can mutually agree in writing to cancel the tenancy, specifying the agreed-upon terms and conditions. It is essential for landlords to understand these Simple Cancellation Provisions in order to exercise their rights properly. Compliance with Arizona law ensures that both landlords and tenants are treated fairly and that their contractual obligations are upheld. By knowing the situations in which landlords can cancel a rental agreement, both parties can make informed decisions and avoid any disputes or legal issues.
