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A lease renewal allows a tenant to extend their current lease. The tenant and landlord must sign the lease renewal for it to be legally binding. Furthermore, as part of the renewal, the lease may also be amended to include new rules or increases in rent. Tenants who are in good standing with their landlords are generally notified of the upcoming lease renewal within 30 to 90 days of the original lease expiration date. Suitable for residential and commercial properties.
Often, renegotiating a lease is required in order for a landlord or tenant to renew their lease. Tenants during downturns may ask for a reduction in rent, and landlords during good times may raise the rent. Make sure you follow these steps when contacting the other party about your intention to renew your lease.
Renters may receive a simple lease renewal or a completely new lease, depending on the landlord's preference. If the landlord decides on the latter, a letter should be sent to the tenant stating the following:
[Landlord’s Name]
[Landlord’s Address]
[Landlord’s City, State]
[Landlord’s Zip]
[Date]
Dear [Tenant’s Name],
We intend to renew your lease dated [Original Lease Date] that will end on [End Date of Lease]. In light of the fact that you have shown to be a model tenant, you are offering to extend your lease for another [Enter Term] at a monthly rental rate of [Enter Rent ($) Amount].
Upon accepting this offer, please reach out to our office by [Enter Date].
Sincerely,
[Landlord’s Signature]
A letter should be sent at least 30 days before the expiration date. It's up to the landlord whether they send the letter themselves or if they use a website that offers such services.
It is expected that the tenant responds within the given timeframe. The tenant may decide to make a counter-offer to the landlord depending on the circumstances. In this case, a verbal agreement with the tenant may be more appropriate.
A simple 1-page lease renewal agreement may be signed by the parties if most of the lease terms are the same as the original. An entirely new lease must be signed if there are many changes, such as the tenant changing, the landlord changing, the tenant moving into a new unit within the building, etc.
Renewing an agreement is considered a completely new contract, while an extension just extends its end date.
Obtain a copy of the Lease Renewal Agreement by clicking on the download button displayed on this page.
There are links in this section for downloading Adobe PDF and MS Word versions of the Lease Renewal Agreement (as designated by the file type). In addition to making this template available as a "PDF," and "Word," file, there will also be a button labeled to correspond to each one.
The first step is to attach the renewal date through this form
For both parties to keep track of their new agreement, the document being developed must be given an official date.
Step 2: Identify the landlord who is allowing the renewal
A Landlord who determined the Tenant could extend the current lease must be named after the "Landlord" label.
Step 3 - Identify the tenant seeking a renewal of the lease
Landlords must document the full name of the tenant choosing to renew their leases
The 4th step involves documenting the location of the rental property in question
It is imperative that the leased property central to this renewal be identified clearly in this document. A Reviewer must be able to view and access the concerned premises at this address.
Step 5 - Discuss The Lease Responsible For This Renewal
To accomplish this task, refer to the current rental agreement then manually translate the effective date into this article.
Step 6 - Determine how the extension will happen
While the Renewal Parties (Landlord and Tenant) will have agreed to renew the current rental agreement, the method by which this renewal is set must be specified.
Make sure to check one of the three checkboxes (“Days,” “Months,” or “Years”) to indicate the time unit when discussing the number just reported.
Step 7 – Establish This Renewal’s Start Date
It is crucial to include an exact date when the renewal terms will be effective in this paperwork. If both parties agree, the renewal date can start at the end of the original lease or when the lease is terminated.
Step 8: Include additional renewal terms as necessary
In this document, the lease's conditions can be renewed or amended, if needed. Article “VI. Other Terms” relate to situations where one or both Renewal Parties have different responsibilities from those imposed in the original lease agreement. Check the box next to the words "To Not Further Amend The Lease" if the lease will be renewed with its original terms.
Step 9 - Provide the landlord's signature
To approve and enter the renewal agreement, the Landlord in article one must sign the line titled "Landlord's Signature". After completing this task, the applicant should proceed to the adjacent "Date" line and note the month, day, and year this paperwork was signed.
In the tenth step, the tenant must sign the renewal contract
The Tenant must sign the "Tenant's Signature" line at the bottom of this document, along with the "Date" of his or her signature, if the Tenant agrees to the renewal terms above and the terms and conditions of this document.