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Leases that meet specific classification requirements must be recorded on a companys financial statements.
If your landlord tries to evict you for any reason other than non-payment of rent, or for no reason at all, she must give you a 30-day (or rental period) notice to quit. You must receive the notice at least 30 days or 1 full rental period in advance, whichever is longer.
Either the landlord or the tenant can decide to end the tenancy by giving the other party notice either 30 days or one month before the due date of the next rent payment, whichever is longer. In this type of agreement, the rent can change within the same 30 days or one month before the tenancy ends.
A note about lease terms According to North Carolina G.S. 47-18, a tenant who is leasing space for a term of more than three years should ensure that a memorandum of lease be executed and recorded in the office of the register of deeds in the county where the property is located.
A lease is a legal, binding contract outlining the terms under which one party agrees to rent property owned by another party. It guarantees the tenant or lessee use of the property and guarantees the property owner or landlord regular payments for a specified period in exchange.
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Accounting: Lease is considered an asset (leased asset) and liability (lease payments). Payments are shown on the balance sheet. Tax: As the owner, the lessee claims depreciation expense and interest expense.
Generally (with a few notable exceptions, below), landlords and tenants do not have to give a reason for choosing not to renew a lease.
Although business tenants generally have the right to renew the tenancy of their premises when it comes to an end, landlords can refuse to grant a new tenancy in some cases.
The fact that the terms of the lease has come to an end does not mean that you have to leave the property. Unless you or your landlord takes specific steps to end the agreement under the lease, it will simply continue on exactly the same terms. You do not need do anything unless you receive a notice from your landlord.
Terminating a tenancy However, if you do not have a fixed-term tenancy, the landlord can ask you to leave during the first 6 months without giving a reason. They must serve a valid written notice of termination and give you a minimum 90-day notice period.

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