Make sure you know what your holdover provision is in your lease! I've seen it as high as 400% of last months rent (the landlord's attorney had written that, should the tenant stay on a month to month basis after the lease expired, the rent would increase to 4 times of the last months rent.) Worded by an obvious expert! 4 times compared to 400%...What is your holdover provision? You need to know it. 150%-200% of last months rent is considered fair.
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About Randy Mason
Randolph T. Mason, CCIM, SIOR is a Senior Vice President and one of the Partners of Lee & Associates – Irvine, Inc. With more than twenty-two years of real estate brokerage experience, Mr. Mason specializes in the leasing and selling of office and industrial properties throughout the Orange County marketplace, as well as representing various multi-market firms across the country. Mr. Mason specializes in representing the tenant and buyer side of the transaction which has allowed him to focus on his client’s needs by being their fiduciary and exclusively represented advocate.