Guarantee Sign Lease Renewal For Free

B. Upon the expiration of a rental agreement, the agreement shall be automatically renewed for a term of one year with the same terms unless the landlord provides written notice to the tenant of any change in the terms of the agreement at least 60 days prior to the expiration date.

How to renew a tenancy agreement? Renewing a tenancy means the tenant simply signs a new tenancy agreement for a new fixed term. Your letting agent can help with this however if you don't have one present then presenting your tenant with a new assured shorthold tenancy agreement would do the trick.

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 extension agreement is a legally binding contract between a landlord and tenant that extends the lease length beyond its original end date. This document allows a landlord and tenant to extend their Lease for an agreed-upon length of time, typically one to two years.

Any rental agreement of whatever duration shall be automatically renewed for the term of the original rental agreement, unless a different specified term is agreed upon.

An option to renew confers on the tenant a right to continue to rent the property for a fresh term after the expiry of the current term, i.e. to renew the existing tenancy. With an option to renew, the tenant obtains another term of tenancy and the landlord is somewhat secured with rental income as agreed beforehand.

Tell them you'd be delighted to extend their lease and ask them to let you know at least a month before their contract expires if they'd like to renew. A good way to persuade good tenants to stay is to offer a rent freeze, but obviously if you do want to raise the rent, now is the time to mention it.