Real Property-Lease Expiration
In some instances, it is neither economical nor in the best interest of the institution to move a JMU department's location at the end of a lease period. If all renewal options were exercised and the department determines it should remain at the same location, a new Deed of Lease must be prepared with a description of the changes in the terms and/or conditions. The Bureau of Real Property Management must be notified at least 150 days prior to the expiration date of the lease.
- A Lease Authorization memo is forwarded to the department (user) leasing space. The user reviews their current space needs, identifies funding, signs the Lease Authorization memo and attaches a written Lease Justification for remaining at the same location (demonstrating the tangible benefits, the mission of the Program or Department and estimated relocation costs).
- Real Property notifies Lessor of JMU's intentions according to the time specified for written notices. Budget reporting is submitted to the Assistant Vice President for Resource Planning and JMU Administrative offices for support to continue the lease.
- Real Property prepares a Lease Analysis Chart, a Certification of Space Needs and Funding and a new Deed of Lease in conjunction with the required notification date specified in the lease and forwards to the Bureau of Real Property Management for approval.
- The approved lease is returned to Real Property Administrator for signature. The fully executed lease is distributed to the appropriate parties.