commercial property Tag

Comprehensive Overview of the new Non-Residential Rent Law

IntroductionThe new Non-Residential Rent Law, enacted on April 3, 2025, governs the lease of non-residential and commercial properties, specifically those leases that were signed and had their original term expire before July 23, 1992, and outlines new regulations for extending leases, determining fair rent, and the rights and obligations of both property owners and tenants.Understanding this law is crucial for anyone involved in the leasing of commercial, industrial, or professional spaces. This guide aims to provide a clear and detailed...