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.
North Carolina Simple Cancellation Provisions for Landlord
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FAQ
A landlord can't force you to move out before the lease ends, unless you fail to pay the rent or violate another significant term, such as repeatedly throwing large and noisy parties. In these cases, landlords in North Carolina must follow specific procedures to end the tenancy.
The North Carolina Office of Administrative Hearings and the Fair Housing Act prohibit landlords from discriminating against potential tenants because of their race, religion, familial status, sex, gender, etc.
An early lease termination clause exists. The penalty could be the equivalent of 2 months' rent. If the monthly rent is $1,500, you could require tenants to pay a penalty of $3,000 when looking to terminate their lease. Also, you may want tenants using this clause to provide you sufficient notice.
For month-to-month leases, there must be seven days of notice. For year-to-year leases or those with other definite terms, landlords must notify the tenant, or vice versa, within a month of the end of the lease. On leases lasting between one week and one month, notice must be given at least two days in advance.
Early termination contract refers to the dissolution of a contract before the term of that contract has concluded. This will usually occur due to breach of contract, which involves a party failing to uphold the terms of the contract they signed.
Tenants, technically, can break a lease in North Carolina for any reason. However, not following the terms specified in the lease can cause them to pay a few penalty fees. However, there are a few scenarios where a tenant may be able to break a rental agreement without paying extra fees.
§ 42-14. A tenancy from year to year may be terminated by a notice to quit given one month or more before the end of the current year of the tenancy; a tenancy from month to month by a like notice of seven days; a tenancy from week to week, of two days.
