Lease Renewal (Extension) Agreement

Depending on the landlord’s preference, a simple lease renewal may be sent to the tenant or the landlord may decide to re-write an entirely new lease agreement to the tenant. If the landlord decides on the latter, a letter should be sent to the tenant stating the following:

LETTER OF INTENT TO RENEW LEASE

 

[Landlord’s Name]
[Landlord’s Address]
[Landlord’s City, State]
[Landlord’s Zip]

[Date]

Dear [Tenant’s Name],

It is our intention to renew your lease dated [Original Lease Date] that will end on [End Date of Lease]. You have shown to be a model tenant and would offering to renew your lease for an additional [Enter Term] at the monthly rental rate of [Enter Rent ($) Amount]

If you accept this offer, please contact our office by [Enter Date].

Sincerely,

[Landlord’s Signature]

It’s recommended to send the letter at least 30 days before the expiration date. The landlord may send the letter themselves or use websites like MailaLetter.com ($1.99 for 1-page).

The tenant will be required to respond within the timeframe outlined in the letter. Depending on circumstances, the tenant may decide to make a counter-offer to the landlord. If so, it may be better to schedule a meeting with the tenant to come to terms and come to a verbal agreement.

If the terms of the lease are mostly the same as the original, a simple 1-page lease renewal agreement may be signed by the parties. If the new lease has many changes, i.e. a tenant has changed, the landlord has changed, the tenant has moved to a new unit in the building, etc. a new lease agreement should be authorized amongst the parties.