Common use of HOLD OVER TENANCY Clause in Contracts

HOLD OVER TENANCY. If, at the termination of the agreement, the lessee remains in possession with consent of the lessor after the termination, and if the lessee pays rent accepted by the lessor during such possession, this agreement shall be deemed converted to a month-to-month rental without further action by either lessor or lessee. The conversion of this rental agreement to a month-to-month tenancy after the ending date is not automatic. The lessee cannot remain in the property beyond the termination of this rental agreement unless the lessor has given specific written consent, or unless the lessor accepts rent after the termination. Unless the lessor has given specific written consent to continue the tenancy on a month-to-month basis, the lessee must vacate by the termination date and time; without such written consent from the lessor, the lessee bears the risk of eviction if the lessor does not accept further rent. Among other things, the lessor may require, as a condition of consent, that the lessee pay rent in advance for the holdover tenancy, or make an additional security deposit. If the tenancy becomes a month- to-month rental, all security deposits shall remain on deposit with lessor until the tenancy is terminated; other terms of this agreement shall also remain in effect, subject to change after notice as provided in the Residential Landlord-Tenant Act of 1973 as amended. If this agreement is, or becomes, a month-to-month agreement, or if the term is indefinite, either party may terminate the tenancy by giving at least 20 days' written notice of termination before the next rent is due. For example, notice of termination must be given not later than the 10th day of a 30-day month, and not later than the 11th day of a 31-day month, to terminate the agreement at the end of that month. Termination of the tenancy will not be effective unless sufficient notice has been given as provided above.