We are the owners of a commercial building. The commercial lease with the retail business expired on 30 June 2014. 3 months prior to the lease expiring (March 2014), after having a market review of the property, we approached the tenant to renew a further 5 year lease at the recommended rate from the review. For many years, as the review highlighted, the rent had been below market value as we were trying to help the tenant along in hard times (now backfiring on us). The tenant responded in April 2014 that they would not sign any new lease unless it was at the same rent as they were currently paying. The tenant is now on a month to month agreement according to the old lease. It is now October and we would like to try again to secure a new lease. We feel we should be able to approach the tenant with same proposal (that he rejected earlier), and if not accepted by end of October 2014 ( 7 months from when we initiated trying to agree on a new lease but only 4 months from the actual expiry of the lease), we intend give the tenant 1 month's notice (from mid November 2014) to vacate the property. Are we able to do this under commercial law? Have we allowed the correct time frames so to not expose us to any further legal maneuvering from the tenant? I have read that tenants rights can include disputing the rent, and we would have to go down various legal channels to sort this out.