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Updated about 5 years ago,

User Stats

15
Posts
2
Votes
Anthony Paul Guglielmi
  • Rental Property Investor
  • Lexington, KY
2
Votes |
15
Posts

Question about lease terms...

Anthony Paul Guglielmi
  • Rental Property Investor
  • Lexington, KY
Posted

Can anyone tell me what these this language would mean today:

"This lease will commence February 16, 2012 and terminate February 29, 2013. This lease will automatically renew at its end date for a 1 year period if a notification of termination is not recieved by either party, in accordance with Move out Notice #20 noted later in this lease."

I inherited these tenants. Does this means even though it is past the renew first year it is continual, or has this lease technically ended?

I need to know if I need to get these leases updated or if I need to wait until the Month stated in the term. The other lease says May 2018.

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