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How to Search Commercial Lease Notice

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This video tutorial aims to clarify commercial real estate terms, specifically focusing on commercial leases. It outlines the basics of lease structures, key lease clauses, and typical delivery conditions. Viewers will learn about various lease structures, starting with the triple net (NNN) lease, which is prevalent in commercial properties. In a triple net lease, the tenant pays base rent along with property taxes, building insurance, and common area maintenance costs, effectively incurring all property-related expenses while the landlord retains ownership. By the end of the video, viewers will have sufficient knowledge of commercial leases to navigate discussions confidently.

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Here 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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How long does it take to evict a commercial tenant in Ontario?

If the required notice is not specified in the lease, the Commercial Tenancies Act (Ontario) requires 15 days notice for rental bdocHubes. For other bdocHubes, even if the lease says no notice is required, give reasonable notice and time to cure before trying to terminate the lease. 2.

Do you need to give notice at the end of a commercial lease?

If the lease is not secure, no notice needs to be served and the tenant should simply vacate on the last day of the term of the lease. This Notice must be given to the Landlord not less than 3 months before the date on which the tenant wishes the tenancy to end.

Can a landlord evict a commercial tenant Ontario?

In nearly every commercial lease, a landlord is entitled to evict a tenant for not paying rent or a material bdocHub of the lease conditions, but terms of each specific lease will vary.

How much notice does a landlord need to give a commercial tenant?

Even if the landlord and tenant have opted out of sections 24 to 28 of the Landlord and Tenant Act 1954 (see the next section), it is still safest for the Landlord to give at least 3 months notice (or however much is required by the lease).

Can commercial landlord come on property without notice?

Lets be clear, other than in emergency its illegal for a landlord or agent to enter a property without agreement from the tenant. The golden rule to abide by is always to provide your tenants with written notice at least 24 hours before any planned visits.

What happens if I dont give 60 days notice Ontario?

If you dont, the tenancy continues. Fixed-term: If you have a fixed-term tenancy, like a one year lease, then you must give notice at least 60 days before the end of the lease. The termination date cannot be before the last day of the fixed term. If you dont give notice, the tenancy continues.

What is the notice period for a commercial property?

So a tenant is likely to have to give between 3 and 4 months notice if rent is paid monthly, and 3 and 6 months notice if rent is paid quarterly.

How much notice does a commercial landlord have to give in Ontario?

In a month-to-month tenancy, either the tenant or the landlord must give written notice at least one-month in advance. The last day of the tenancy would be the last day of the month. For example, if you plan to end your lease on November 30, you must give your landlord written notice no later than October 31.

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