Virginia Lease Renewal Form With Lease Agreement
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FAQ
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.
A lease renewal is when the tenant and landlord agree to another lease term, which may require creating a new lease with updated clauses and a higher rent price in most cases. A lease extension is when tenants need the term extended for a certain period with a lease amendment.
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.
Lease automatically may renew for another set term unless landlord or tenant gives written notice of non-renewal before the end of the set term. The lease usually says how much advance written notice must be given (e.g., 30 days, 60 days, or 90 days) before the end of the set term.
A Renewal Option is a clause that allows the tenant the right to either extend their lease at specific terms upon the expiration of the current lease term; or, the right to negotiate to extend their lease term.
