i am purchasing a commercial guest house,it has a 'rolling lease 6 years plus rental each year,is this ok?

the lease is £99000 for 6 years and 15000 rent per year. Its making £55000 per year.
I don't really understand about the rolling lease.Can anyone help me?
In Buying Property - Asked by LYNNE B. - May 24, 2013
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Mark J.
Louisville, KY

Lynne, you really need to take your lease and check with a local solicitor familiar with commercial real estate. My understanding is that what in the UK is known as a "rolling lease" is what in most parts of the US is known as an "at will tenancy" or "month to month lease". Normally after your 12 month lease is up, if neither the landlord nor the tennant take any action, it becomes a rolling lease; you pay rent as before but now either side only has to give 1 month's notice before vacating or evicting. In your situation, I am unclear about the "6 year 'rolling' lease". This answer is not intended to be legal advice, nor to create an attorney-client relationship. Please do consult with a local attorney with experience in this area.

Jun 26, 2013
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