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Lease Extension Agreement Form PDF Free Download
Lease Renewal Agreement
Lease renewal agreements and lease extension agreements are used to officially continue a rental contract before the current lease period expires.
Though lease renewals and lease extensions have the same effect, they are different.
A lease renewal agreement is essentially a new contract that updates the duration of the rental period and may contain new terms.
Renewal vs Extension
A renewal is treated legally as an entirely new agreement where an extension is simply prolonging the end date of the original agreement.
| Actions | Renewal | Extension |
| Extending the Lease Term | Recommended | Recommended |
| Increasing Rent | Recommended | Not recommended |
| Adding Terms & Conditions | Recommended | Not recommended |
How to Renew a Lease
Renewing a lease isn’t always easy for the landlord or tenant since it often requires renegotiating the lease.
During good economic times, the landlord may increase the rent and during downswings, the tenant may ask for a decrease.
Follow these steps to properly give notice to the other party about your intention to renew your lease and remain on the property.
Step 1 – Write Notice
Depending on the landlord’s preference, a simple lease renewal may be sent to the tenant or the landlord may decide to re-write an entirely new lease agreement for the tenant.
If the landlord decides on the latter, a letter should be sent to the tenant stating the following:
Step 2 – Send Notice
It’s recommended to send the letter at least 30 days before the expiration date.
The landlord may send the letter themselves or use websites like MailaLetter.com ($1.99 for 1 page).
Step 3 – Wait for the Tenant to Respond
The tenant will be required to respond within the timeframe outlined in the letter. Depending on the circumstances, the tenant may decide to make a counteroffer to the landlord.
If so, it may be better to schedule a meeting with the tenant to come to terms and come a verbal agreement.
Step 4 – Write the New Lease
If the terms of the lease are mostly the same as the original, a simple 1-page lease renewal agreement may be signed by the parties.
If the new lease has many changes, i.e. a tenant has changed, the landlord has changed, the tenant has moved to a new unit in the building, etc.
a new lease agreement should be authorized amongst the parties.
| Author | – |
| Language | English |
| No. of Pages | 1 |
| PDF Size | 1 MB |
| Category | Form |
| Source/Credits | eforms.com |
Lease Extension Agreement Form PDF Free Download