There is no requirement for a landlord to give the tenant notice or allow the tenant time to pay rent after the 15 days. Terminating the Lease (Forfeiture of the Lease)Īssuming that the lease is silent on the issue, when a tenant fails to pay rent, the landlord may terminate the lease once rent has been outstanding for more than 15 days. If it is not required by the lease or some other statute, it is usually advisable for a landlord to give notice to the tenant of any default and allow a reasonable amount of time for the tenant to cure the default. This may be advantageous for a landlord because monetary default remedies tend to be broader. Some leases will allow a non-monetary default to be converted to a monetary default. For example, a non-monetary default would occur if the tenant failed to make a required repair under the lease. A non-monetary default occurs when the tenant fails to perform an obligation under the lease that does not relate to the payment of money.

(assuming the lease required these payments). For example, a monetary default would occur if the tenant failed to pay rent, taxes, utilities, etc. A monetary default occurs when the tenant fails to pay an amount due to the landlord under the terms of the lease. The type of default will determine the landlord’s available remedies. There are two types of tenant defaults – monetary or non-monetary. If a tenant defaults on their obligations under a commercial lease, a landlord may wish to pursue a remedy. Individuals & Families Expand Navigation.

Commercial notice of default template