Property Management
In New York, a 'holdover tenant' who remains after lease expiration in a commercial property may face:
ANo consequence; they automatically become a month-to-month tenant
BA holdover rent premium (often 150-200% of the last rent) and potentially a summary proceeding for possession✓ Correct
CImmediate eviction without notice
DA lien on their business assets
Explanation
Commercial leases in New York often contain holdover provisions specifying that a tenant who fails to vacate at lease expiration owes a significantly higher holdover rent (e.g., 150-200% of the final monthly rent) and remains subject to summary eviction proceedings.
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