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We entered a landlord/tenant lease contract for 10 years w/ 2 yr option.?

We are the land lords. The option is to grant the tentant and additional 2 years if they choose to. My question is, is there such thing as a perpetual lease? The tenant thinks they can stay forever at our store. They believe that we have to renew their lease every 2 yrs forever. Please help!!!

Public Comments

1. You should have your attorney (get one if you don't have one) advise your tenant. If the tenant didn't understand the contract, they shouldn't have signed it.
2. thats something that should be spelled out clearly in the fine printin the original contract. there should be a clearly defined time period to the lease not only a start date, but ending date as well. in the event that this tennant vacates the property, yet pays the lease funds on time, what do you do with the vacant property so that the local taxing authority does not call it aneyesore? a perpetual lease is also known as other things, squatters rights among others. check with your atty for more info, dont be afraid to ask q`s
3. It is not your problem if the tenants do not understand the contract. They signed it and now they have to stick by it. Tell them to take it to an attorney to explain it to them. You wrote a contract for a 10 year lease, with optional 2 year at the end of the 10 year contract. Pretty self explanatory. I don't understand what their gripe is!?! They have a 10 year contract! When the ten years is up, unless they can find you another satisfactory replacement tenant, they must honor the contract! Just be kind and tell them that you are not certain what the problem is. You have a contract signed by them. If they are having trouble you will be happy to give them name and number of an Attorney that can help them understand it all. Tell them that you, according to their signed contract, it was only for 2 years after the ten. There is nothing in the contract that says you have to re-sign them every two years hence forth.