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ARTICLE · 14 FEBRUARY 2017

The Timely Exercise Of Lease Renewal Rights

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The Landlord and the Tenant had many discussions about renewing the Lease beginning in July, 2014.

CanadaReal Estate and Construction
William Rowlands
William Rowlands
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Introduction

The recent Ontario Superior Court of Justice decision in Velouté Catering Inc. v Bernardo, 2016 ONSC 7281 indicates that all may not be lost when a tenant fails to exercise its right to renew its commercial lease within the time period provided in the lease document.

Facts

Velouté Catering Inc. (the “Tenant”) was the tenant of Frank Bernardo Ciddio (the “Landlord”) pursuant to a lease (the “Lease”) with a five year term that expired April 20, 2016.  The Lease had a very typical renewal right that required the Tenant to exercise such right by notice to the Landlord at least six full calendar months prior to the end of the current term, so by October 20, 2015.

The principal of the Tenant and the Landlord had been long time personal friends and, as a result, conducted their business affairs in an informal manner.

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