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A lease extension refers to a legal agreement that extends the term of an existing lease or rental agreement. The lease extension should name the parties involved, the dates on which the extension begins and ends, and should reference the earlier agreement being extended.
September 1, 2023. A lease expiration is when a lease agreement reaches its end date. When a lease expires, the tenant can either move to a new property or continue living in the property under new terms.
The landlord serves a prescribed notice on you to gain possession of the property (the landlord will need a court order to gain possession of the property), or: the landlord may serve a prescribed notice proposing an assured periodic tenancy, where you pay a monthly rent.
Renewing a lease A new lease can be made or the landlord and tenant can agree to renew the lease for another fixed term period. If a new agreement is not reached, the tenant still has the right to stay: as a monthly tenant, if they paid their rent by the month in the expired lease.
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.