Quote:
Originally Posted by billethkid
It's the old they raised my rent and I can't afford it urban legend.
When one signs a lease with TV or anybody else for that matter, it includes the term. For example a 10 year lease or a 5 year lease with the rates spelled out. And the almost always include options for renewal in increments of 5 years (or more).
The "raise the rent" surprise is a rumor or an easy way to dodge the real reason for closure. The old he made me do it cover.
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While your post is correct - a lease followed by renewal option(s) - eventually the agreement expires. The landlord offers a new agreement - presumably a lease with renewal option(s) - with a new monthly rent, potentially a higher monthly rent. The tenant decides whether or not to accept the new agreement.
"Long ago and far away" I experienced this scenario myself. I first tried to relocate my business, but eventually decided to close and liquidate it before the expiration of the original agreement.