15:43
questionnnnnn - does anyone know what it means if you got the first feeler from gulc last week? can't tell if its something generic or something to get hopes up for.
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Simple English definitions for legal terms
holdover tenancy
Read a random definition: pre-dup
A quick definition of holdover tenancy:
Holdover tenancy: When someone rents a place to live in, they usually sign a paper that says how long they can stay there. When that time is up, they are supposed to leave. But sometimes, the person stays even though they are not supposed to. This is called a holdover tenancy. The person still has to pay rent, but the owner can ask them to leave and take them to court if they don't.
A more thorough explanation:
A holdover tenancy is when a tenant continues to live in a rental property after their lease or rental agreement has expired, without the landlord's permission. The tenant is still responsible for paying rent at the same rate and terms as before, but the landlord can take legal action to remove them from the property.
John's lease for his apartment ended on December 31st, but he continued to live there without signing a new lease or getting permission from his landlord. He paid rent on January 1st and every month after that, but his landlord eventually found out and gave him a notice to quit. John had to leave the apartment or face legal action.
Another example could be a commercial tenant who stays in their storefront after their lease has ended, but the landlord wants to rent the space to a new tenant. The holdover tenant would need to leave or face legal consequences.
These examples illustrate how a holdover tenancy can occur and the potential consequences for the tenant if they do not vacate the property. It is important for tenants to communicate with their landlords and make arrangements for a new lease or move-out date before their current lease expires.