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Holdover Tenant

A Holdover Tenant refers to a tenant who continues to occupy a property after their lease has expired but without the landlord’s explicit permission to do so.

In general, holdover tenants can be problematic for real estate investors and landlords. Their continued occupancy can prevent new tenants from moving in or complicate the sale of the property.

The legal status and rights of a holdover tenant can vary depending on the jurisdiction. In some cases, if a holdover tenant continues to pay rent and the landlord accepts it, a new month-to-month lease may be created by default. In other cases, the holdover tenant may be considered a trespasser, and the landlord can initiate eviction proceedings.

However, it’s important to note that landlords should always consult with a real estate attorney or professional to understand their rights and responsibilities, and the possible legal outcomes in such a situation.