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Aug 6th, 2022

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How to Search Commercial Lease Termination Notice

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In the video, the speaker addresses the question of whether one can terminate a commercial lease. The conclusion is that, generally, the answer is no, unless the lease includes a buyout provision negotiated before signing. This provision allows tenants to pay a specific amount to the landlord to be released from the lease. Without such a provision, tenants remain bound by the lease unless the landlord breaches it. For any questions, viewers are encouraged to call the provided phone number.

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Got questions?

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.

Do you need to give notice to end a commercial lease?

Usually, the tenant can only leave at the end of a period (before the next payment of rent is due), but must give at least the amount of notice required in the lease (3 months if not contracted out).

How do you write a letter to get out of a commercial lease?

It should contain the essentials, such as: Your name and the landlords name and address. The date youre writing the letter. Informing the landlord youre breaking your lease early. The reason why youre breaking your lease. The building and apartment youre vacating. The date by which youre vacating.

How does a tenant terminate a commercial lease?

A break clause is written into the commercial lease from the outset and allows a Tenant (and even a Landlord) to end a lease early by serving a notice on the other party.

Can a landlord terminate a commercial lease in Ontario?

The applicable notice period is normally set out in the lease itself. Notice periods may be different for monetary and non-monetary defaults. Where a lease does not specify the notice period, the Commercial Tenancies Act allows a landlord to terminate a lease if rent has not been paid for more than 15 days.

What happens at the end of a commercial lease?

At the expiry of the contractual term under a protected lease, the tenancy continues (holds over) on the same terms until either party serves notice to bring the lease to an end.

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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