Dear Experts,
I am planning to buy a commercial property and rent it to already existing tenants (3 tenants). They have rented the property (with existing owner) already for 15 years (since 2008). They want me to sign a rental agreement for another 6 years with an option to increase the rent after every 2 years by certain percentage.
If I sign an agreement with the tenant for 6 more years, will there be any legal issues in the future? Will the tenants aquire any special rights by staying so long? If they refuse to vacate after 6 years, what can be done? Can you please give some detailed information and links to understand the laws governing all this?
Looking forward for your valuable suggestions.
Best Regards,
Raju
