Residential Lease Extension - Lease Renewal Agreement

Used to extend the terms of an existing or previous lease, these residential lease extension forms are available for every State.  These lease extension agreements are easily tailored to meet your individual needs.  Simply select your State and choose the residential lease extension appropriate for your situation.

Lease Extension - How to Properly Renew a Lease Dhcr Lease Renewal Form

Lease extension needs to be done properly in writing to avoid future landlord and tenant disputes. A lease extension agreement can be created for a commercial lease extension or residential lease extension. Any time a lease term is longer than a year, a written lease extension form is required by law. In addition, having the rental lease extension agreement in writing will avoid misunderstandings and disputes over the lease agreement. A rental lease extension agreement avoids having to create a new lease, as most of the terms of the original lease are incorporated by reference into the property lease extension. An extension of lease is basically a renewal of a previous lease that has expired.

By signing a rental agreement extension, a tenant avoids becoming a monthly tenant after the lease expires. Typically, without a renewal clause or signing a new lease, a tenant who remains after a lease expires becomes a month-to-month tenant and loses the protection of the terms and rental rate assured in a written rental agreement to cover the lease term.

The right to extend a lease agreement can also be created when the original lease is signed by signing an option to renew the lease at the time the original rental agreement is created. US Legal Forms offers a variety of lease extension agreements. We offer a residential lease extension form specifically designed for each state. We also offer a commercial lease extension or a renewal option that can be used as a lease extension addendum when the original commercial lease is signed. By offering the option to renew or extend lease agreement terms, a prospective tenant may be more likely to sign a rental agreement.

Some basic terms included in a residential lease extension agreement or commercial lease extension agreement are:

  • Name of the landlord and address for submitting rent payments.
  • The names of the tenant or tenants responsible under the lease agreement.
  • A reference to the original lease, with the expiration date of the original lease.
  • The agreement that the referenced original lease and its rental terms will be renewed, along with the starting and ending dates of the rental agreement extension.
  • Any changes in terms to the original lease, such as a change in rent. The rent amount and payment due date under the residential lease agreement extension or commercial leasehold extension should be clearly defined. Any prorated rent payments due up to the effective date of the extension of lease can be included.
  • The dated signatures of the landlord and tenant(s).

There are other terms that may be included in a rental lease extension form. The lease extensions available on the US Legal Forms website can be downloaded in Word format and customized to suit any particular needs in any residential lease extension form or commercial lease extension form.

Tips for Preparing Residential Lease Extension

  1. Pay by the due date. Don't be late on rent payments and maintain your credit rating and history clear and trustworthy. If you’ve run into financial hardship in the past, tell your property owner in advance.
  2. Stick to the Residential Lease Extension terms. The lease agreement saves equally you and the property owner. For that reason, the parties must follow the terms and conditions that they agree to. In case you are unable to meet a rental agreement condition, discuss it with the homeowner instead of trying to cover it.
  3. Look for some common ground together with your property owner. There’s no reason to become close friends, but you should communicate from time to time, so it's better to do this in a friendly way.
  4. Renew your Residential Lease Extension. Many renters believe this is a homeowner's duty to keep in mind to renew the rent purchase arrangement. While it seems sensible, it is recommended to talk to your property owner and decide about renewal in advance. Otherwise, you risk being left homeless.
  5. Consider having a guarantor. If you don't have a rental background, the landlord can ask you to get a guarantor. You could pick your parents and employer, or college. No one is going to disturb your guarantor as long as you answer your agent and match the terms of the arrangement.