California Lease Extension Form With Option To Purchase

State:
California
Control #:
CA-826LT
Format:
Word; 
Rich Text
Instant download

Description

The California lease extension form with option to purchase provides a structured agreement to extend the duration of an existing lease while allowing tenants the option to purchase the property. This form begins by identifying the landlord and tenant parties and references the original lease agreement details. The extension of the lease term is clearly outlined, specifying the new commencement and expiration dates. It includes revised rent payment details, ensuring tenants understand their financial commitment during the extension period. Key features include the integrated option to purchase, which is particularly beneficial for tenants interested in ownership. Legal professionals, such as attorneys and paralegals, can utilize this form to meet client needs in lease negotiations. Property owners can use this extension to retain tenants while offering an opportunity for property purchase, fostering long-term relationships. Additionally, associates and partners in real estate can leverage this template to streamline client transactions and minimize legal risks.

How to fill out California Residential Or Rental Lease Extension Agreement?

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FAQ

Put it in writing Your name, current address and contact information. Date the lease extension request is submitted. Length of the lease extension, including the proposed end date. Reasons for extension. Date by which you need a decision, usually 10 days to two weeks.

OPTION TO EXTEND. written notice no earlier than the date which is _______ (__) months prior to the expiration of the term of the Lease but no later than the date which is _______ (__) months prior to the expiration of the term of the Lease.

?A lease option is a contract in which a landlord and tenant agree that, at the end of a specified period, the renter can buy the property at a specified price. The tenant pays an up-front option fee and an additional amount each month that goes toward the eventual down payment.?

Most landlords in California require advance notice of at least six months before the expiration of the current lease term. As long as you haven't breached the agreement, and you send in your notice to renew exactly as outlined in your lease, you can renew your lease. The landlord cannot waive the provision.

Lease Extension Request for [Rental Address] Currently, the lease is set to expire on [date]. I would like to amend that date to end on [new date]. I propose to pay you the prorated amount of [extension rent amount] for the additional days that I will occupy the property.

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California Lease Extension Form With Option To Purchase