Property Management
A Virginia commercial lease 'holdover clause' typically states that if a tenant remains after the lease expires without a new agreement:
AThe tenant's tenancy converts automatically to a 1-year lease
BThe tenant becomes a month-to-month tenant or a tenant at sufferance, subject to increased rent✓ Correct
CThe landlord must immediately begin eviction proceedings
DThe original lease terms continue indefinitely
Explanation
A holdover clause typically converts the tenant to a month-to-month tenancy (or tenant at sufferance) at an increased rent rate (often 125–150% of prior rent), incentivizing tenants to either renew or vacate on time.
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