A lease agreement may contain specific provisions authorizing renewal or extension, or a subsequent agreement or modification may grant the extension or renewal. A lease agreement may also grant an option to either a lessee or a lessor to renew or extend the term of the lease agreement.
This form is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Illinois Notice to Lessor of Lessee's Intention to Renew or Extend Lease Agreement is a document used by tenants in the state of Illinois to formally notify their landlord of their intention to renew or extend their lease agreement. This notice serves as a written record of the tenant's intent and provides important information for both parties involved. There are two main types of Illinois Notice to Lessor of Lessee's Intention to Renew or Extend Lease Agreement: 1. Notice to Renew Lease Agreement: This type of notice is used by tenants who wish to continue their tenancy for another term after their current lease agreement expires. The document should include the tenant's name, the landlord's name, the current address of the leased property, the lease expiration date, and the new lease term requested by the tenant. Additionally, it is essential to mention any proposed changes or modifications to the existing lease terms, such as a rent increase or amendments to the terms and conditions. 2. Notice to Extend Lease Agreement: Unlike a renewal notice, this type of notice is utilized when a tenant wants to extend their current lease agreement, usually for a shorter period than the original lease term. It is important to clearly state the tenant's intention to extend their lease, mention the current lease expiration date, and specify the desired extension period. Additionally, any proposed adjustments to the lease terms should be detailed, outlining the tenant's requests to the landlord. Both types of these notices should be drafted with utmost care and attention to avoid any misunderstandings or disputes. Both parties must understand the implications and consequences of the notice, including any changes to rental terms, early termination options, or security deposit adjustments. By using an Illinois Notice to Lessor of Lessee's Intention to Renew or Extend Lease Agreement, tenants can ensure that their communication is formalized, creating a clear understanding between the tenant and the landlord about the future of their leasing arrangement. This document also provides a reference point for any negotiations or discussions between the parties, limiting potential conflicts, and simplifying the lease renewal or extension process.
