Lease Extension Agreement Pdf With Rent Increase
Description
How to fill out North Carolina Residential Or Rental Lease Extension Agreement?
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FAQ
Extension normally refers to a lengthening of time for an existing contract. Renewal normally contemplates an entirely new contract. This can be a distinction without a difference in some situations, but in complicated contracts it can have legal consequences.
A lease extension is a signed agreement that extends the terms of your current lease, whereas a lease renewal enters you into a new agreement with potentially new terms.
If you want to extend the lease on a leasehold property, you will need to come to an agreement with the freeholder about this. You will need a solicitor to handle the legal process for you and help you negotiate the price, if needed.
Prepare the draft in word format.Buy Rs.100 e-stamp paper from your nearest co-operative bank, court or register office.Print the draft on e-stamp paper.Meet the notary public near you with supporting documents. Landlord, tenant, and witnesses have to sign the agreement.Notary public attests and signs the agreement.
Finally, if you do decide to increase your rent at the time of lease renewal, you'll need to send your tenants a rent increase notice, which both parties must agree to and sign. The rent increase notice should be sent before the lease renewal offer in case the tenant decides not to accept the increase in rent.
