After the agreed initial term, a vendor can end this lease with 30 days notice. A form at the front desk should be completed at the start of the 30 day period and the vendor should notify staff at the front counter when the space has been emptied.
The employee will walk through the space with the vendor to go through the checklist in order to ensure the space is left in satisfactory condition. Fees can be up to $50 for extensive holes in the walls, $100 for items left in the space or incomplete/ poor paint, $500 for flooring that is glued or stuck to the concrete. Wall coverings like faux brick, shiplap, and the like are considered improvements and will not incur a fine, nor will lighting and structures built above the space.
Once the 30 day period is over, Painted Tree reserves the right to move vendor inventory in order to clear space for the next vendor, and may take over leftover inventory abandoned by the vendor.
The agreed upon security deposit is refundable via their final check once vendor moves out and will be mailed to the address on file with the following exceptions: 30 days notice was not given; the space was not left clean; rent balance due was not settled; or items are present in the space beyond the expiration of the 30 day period. At the conclusion of the first term, the lease shall have a rolling renewal and the term shall be extended for 6 month periods unless terminated under the provisions of this agreement.