Legal Question in Real Estate Law in Colorado
Renters Rights
Our landlord is selling the building where our business has been located for four years. We're just finishing a 3 year lease, and want to renew for another 3 years. Her realtor has advised her to renew all leases only for 1 year. We want to be sure we're protected against unreasonable rent hikes and/or being forced out. Are we entitled to an automatic 3 year renewal? Thank you
1 Answer from Attorneys
Effect on tenants of sale of commercial real property
Louise Aron
Attorney at Law
Lakewood Office:
1536 South Ingalls
Lakewood, Colorado 80232 USA
(303) 922 7687
fax (303) 922-1370
Cherry Creek Office:
300 South Jackson #100
Denver, Colorado 80209 USA
(303) 780-7339
Satellite offices:
Boulder - 4450 Arapahoe Avenue, #100
DTC - 4610 South Ulster, #150
A TOLL FREE NUMBER is available to clients outside the Denver metro area.
My web site http://effectnet.com/la/
My email: [email protected]
LawGuru User
Dear LawGuru User:
Unless you have a "first right of refusal" or "option" in your existing lease, the landlord need not offer you any renewal whatsoever.
Buyers of commercial properties usually prefer that they not be vacant. Therefore, your best leverage is to look for, or at least appear to be looking for, other space. This will make your landlord (and his or her realtor) more anxious to please you.
Thank you for using LawGuru.
Sincerely,
Louise Aron
Attorney at Law
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