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How to Merge Lease Renewal

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In this BiggerPockets Daily tutorial, host Tyler discusses the importance of lease renewals in property management. Renewing leases with reliable tenants can alleviate stress for landlords and enhance cash flow, making it vital for profitable operations. However, sometimes it may be more beneficial to seek a new tenant rather than renew an existing lease. The guide emphasizes that while lease renewals are crucial for success, they should be approached thoughtfully to avoid potential issues. The content aims to provide a comprehensive understanding of lease renewals and their significance in maintaining a successful landlord business.

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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What is the procedure of amalgamation?

Amalgamation Procedure The new company officially becomes an entity and issues shares to shareholders of the transferor company. The transferor company is liquidated, and all assets and liabilities are taken over by the transferee company. In accounting, amalgamations may also be referred to as consolidations.

Can you merge two leasehold titles?

Merger may determine a lease when both the lease and the reversion on that lease become vested in the same person and that person holds both interests in the same capacity. However, merger does not arise automatically when that vesting occurs.

What is the difference between renewal and extension?

The main difference, however, is that a contract extension extends the term of the contract based on the existing contract, while a contract renewal replaces the existing contract with a new one. A contract renewal is essentially a contract extension without a change in the terms of the contract.

Is an amalgamation an assignment?

While an amalgamation does not effect a transfer or assignment of the lease, the amalgamated company possesses (but does not acquire) the property of the amalgamated companies.

How many years can you extend a lease?

You usually only have the right to extend your lease by 50 years, rather than 90 years with flats. The freeholder could grant more than 50 years if they want, but its up to them. The law is even trickier here than with flats, so seek advice from a solicitor with experience in the area.

How do you extinguish a leasehold title?

A leasehold estate may be extinguished by merger, when the same person becomes entitled to both the leasehold estate and the reversion, or on a surrender of the lease. As in unregistered conveyancing, extinguishment is prevented if the leasehold estate is subject to a mortgage or charge.

What effect does amalgamation have on a lease?

While an amalgamation does not effect a transfer or assignment of the lease, the amalgamated company possesses (but does not acquire) the property of the amalgamated companies.

Can a landlord refuse to renew a lease Massachusetts?

Each Boston landlord lawyer at our firm can assure landlords that they are under no legal obligation to renew leases, and they do not generally have to cite reasons for that action. Still, the law can favor tenants who can prove that certain specific issues were factors in the decision.

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Merge Lease Renewal