A lease renewal form is used by the owner of a property to renew an already existing lease agreement which is nearing the end of it term. Every lease agreement is made for a specific period, usually for one or two years. If both the owner and the tenant are happy with the property and also want to continue living there, then need to renew the lease and also the dates of the new term of the agreement.
You can Download the Lease Renewal Form Template, customize it according to your needs, and Print it. Lease Renewal Form Template is either in MS Word or Editable PDF.
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Features:
Parties Involved:
Identifies the landlord and tenant entering into the renewal agreement. There are sections to record their names and contact information.
Original Lease Agreement:
References the original lease agreement and also specifies the date it was signed.
Renewal Term:
Defines the new rental period for the lease renewal. There are sections to specify the start and also end date.
Revised Rent:
Allows the landlord to specify any changes to the monthly rent amount for the renewal period.
Signatures:
Includes space for both the landlord and tenant to sign the agreement, indicating their acceptance of the new terms.
Benefits:
Convenience:
Using a template simplifies the process of renewing a lease for both the landlord and tenant by providing a structured format to outline the key terms of the agreement.
Clarity:
The template helps ensure both parties are aware of and agree to the terms of the lease renewal, including the rental amount and the new lease period. This can help avoid misunderstandings in the future.
Efficiency:
By having a standard template, the lease renewal process can be completed more efficiently compared to drafting a new lease agreement from scratch.
Security:
A written lease renewal agreement serves as a legal record of the terms between the landlord and tenant, protecting both parties in case of any disagreements.
