What Is A Long Term Lease Agreement

If you have opted for a monthly lease, you have many options for creating a contract. You can always apply to VCAT for compensation or a compliance order after notifying the other party of a notice of breach of obligations. With a long-term lease, you usually commit to a tenant for a year or more. (The terms of a commercial lease can last up to 5 to 10 years.) With a monthly lease, you do not commit to more than 30 days. Tenants who experience domestic violence can also ask VCAT to terminate the lease prematurely. For more information, see Resources on Family Violence. Lucy and Stefan sign a 15-year long-term lease with Form 2 and decide to break the lease prematurely. .