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2207 S Ocean Blvd #617, MYRTLE BEACH, SC 29577
MLS#: 2626706
Last updated: November 2026
When a commercial lease ends, you generally renew, hold over or move out. Renewing usually means exercising an option by a deadline or negotiating a new lease. Holding over means staying past the end date, often at a much higher rent under the lease's holdover clause. Moving out means restoring the space as the lease requires.
The end of a lease sneaks up on a lot of business owners. Here's how to plan for it, ideally starting well before the date.
This guide is part of our guide to buying or leasing commercial property in Myrtle Beach.
In this guide:
- When should you start planning?
- How does a renewal option work?
- What if you don't have a renewal option?
- What is a holdover?
- What should you do if you're moving out?
- Will you owe anything after you leave?
- What if the landlord is selling the building?
- What terms should you know?
- Is it time to buy instead?
- What else do people ask about this?
- Ready to talk about commercial space on the Grand Strand?
When should you start planning?
Earlier than you think. Many leases require renewal notice months before the end date, and finding and building out a new space can take longer than expected. Check your lease now for the end date, any renewal option deadlines and your restoration obligations.
Starting early also gives you leverage. If the landlord knows you're comparing options, they may offer better renewal terms.
How does a renewal option work?
A renewal option lets you extend on terms set in the lease. It usually requires written notice by a specific deadline. The new rent may be fixed, tied to an increase, or set at fair market rent, with a process for deciding what that is.
If you miss the deadline, you may lose the option and have to negotiate from scratch. See how long commercial leases run and what you can negotiate.
What if you don't have a renewal option?
You can still negotiate a renewal. Ask for an extension in exchange for staying, and use the cost of moving, for both of you, as part of the conversation. Ask about refreshed improvements, a few months of reduced rent or updated terms.
Compare the renewal offer with other spaces before you agree.
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What is a holdover?
A holdover happens when you stay after the lease ends without a new agreement. Many commercial leases include a holdover clause that sets a higher rent, often a multiple of the last rent, and makes you liable for the landlord's damages if your holdover costs them a new tenant.
We don't quote a standard holdover rate because it's set by each lease. Read yours. If you need a little extra time, negotiate a short written extension instead of holding over.
What should you do if you're moving out?
Read the surrender and restoration sections of your lease. They say what condition the space must be in, whether you must remove improvements, cabling or signs, and how keys and access are returned.
Plan ahead:
- Give any required notice in writing.
- Schedule removal and repairs.
- Take dated photos and video when you leave.
- Do a walk-through with the landlord if possible.
- Ask in writing for your security deposit and the final CAM reconciliation.
Will you owe anything after you leave?
Possibly. Year-end CAM or tax reconciliations can come after you move out, and repair or restoration costs may be deducted from your deposit. Keep records and know your lease's deadlines for those reconciliations. See CAM charges.
Talk to Our Team About Commercial Space
What if the landlord is selling the building?
A sale doesn't usually end your lease. In most cases, a new owner takes the property subject to existing leases. You may be asked to sign an estoppel certificate confirming your lease terms, so read it carefully and make sure it's accurate.
If you have a right of first refusal or option to purchase, check its notice requirements and deadlines. And if your renewal is coming up, find out who will be making the decision under new ownership.
What terms should you know?
- Renewal option: A lease right to extend for a set term, usually requiring notice by a deadline.
- Holdover: Staying in the space after the lease ends without a new agreement.
- Surrender: Returning the space to the landlord at the end of the lease.
- Restoration clause: The lease terms that say what you must remove or repair before you leave.
- Fair market rent: Renewal rent set by current market conditions, with a process in the lease for deciding it.
- Estoppel: A document confirming lease status, sometimes requested by landlords who are selling or refinancing.
Is it time to buy instead?
The end of a lease is a natural time to reconsider. If your business is stable and you plan to stay in the area, compare renewal with buying a building. See should you lease or buy.
Related guides:
- How Long Are Commercial Leases in Myrtle Beach, and Can I Negotiate the Terms?
- What Are CAM Charges in a Commercial Lease, and Why Do They Go Up?
- Should I Lease or Buy My Business Space in Myrtle Beach?
- How Do I Buy or Lease Commercial Property in Myrtle Beach?
What else do people ask about this?
What happens if I stay after my commercial lease ends?
You're in holdover. Your lease's holdover clause usually sets a higher rent and may make you liable for the landlord's damages.
How do I renew my commercial lease?
Exercise your renewal option by the notice deadline in the lease, or negotiate a new lease or extension.
Can a landlord refuse to renew?
If you don't have a renewal option, generally yes. Check your lease and talk to your attorney.
Do I have to remove my improvements when I leave?
It depends on the lease's restoration clause. Some require removal, some don't.
When will I get my security deposit back?
According to your lease's terms, often after final reconciliations and deductions for any damage.
This article is general information, not legal, tax or financial advice. Rules and requirements change. Talk to a South Carolina attorney, CPA or lender about your situation, and confirm current requirements with the agency involved.
Ready to talk about commercial space on the Grand Strand?
Whether you are leasing your first space, buying a building for your business or adding an investment property, a short call with our team can help you sort out the options and the next steps. No pressure, and no commitment.
