Minimum Timely Notice
What is the minimum time required in Virginia for a Landlord or Tenant to give notice of either a change in the lease agreement or vacating the premises when the lease pertains to commercial property? There is no time limit provided in the lease. A Hold Over clause provides that the old lease provisions will remain in effect on a year to year basis in the absence of a new written agreement or the Landlord’s acquiescence. I hold that due to the nature of my business, timely notice is necessary to find new premises and have them ready to move into before a new agreement would take effect, in case I could not agree to the new provisions.
Are there any statutory time limits that protect the Landlord and/or Tenant in the event none are provided for in the lease agreement?