Commercial Real Estate Investment/lease eviction
I am in AZ. I have leased a storage unit since 2005. I have always been given the option to pay for one year in advance for a 10% discount. Two years ago a new owner took over and allowed the same terms.
This year in 1/1/2014, I received a bill which allowed me to pay the annual payment as usual. The check for 12 months was cashed 1/16/14. I received a registered letter dated 2/5/14 due to construction, remodeling and other purposes we must vacate our unit by 4/7/14.
Our lease says "the lease will be renewed on a month to month, quarterly or years bases (depending upon payment method chosen). Either party may terminate this agreement upon given written notice of (30) thirty days"
Question - Since they cashed my check, didn't return my money with the eviction notice, didn't even acknowledge having a year of rent payment, can they legally evict me before the end of my 12 months paid period?
Loss of this storage unit right now would be a financial hardship as comparable unit size and cost are not available in this area.
I would appreciate your thoughts on this matter.
I think you're going to have to ask a real estate attorney in AZ, as I'm in CA and the laws are likely different here (plus I'm not an attorney). I would guess that if they cashed your check, then they accepted a year's tenancy and must honor the lease. But again, that's a legal interpretation that should be given by a real estate attorney, particularly in how loosely written that lease language is. In the event the lease can still be canceled, you at the very least would be entitled to your prorated money back (even though I recognize that's not what you want to have happen). Best of luck.