Rental lease renewal form is a document used to capture a new agreement after the expiry of the initial agreement. The document states the reversed terms and conditions of the rental lease, rent payment, the general description of premises, the rules and regulation to be adhered to by the tenant. Provided below is a sample of a rental lease renewal form.
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Features:
Parties Involved:
Identifies the landlord and tenant(s) already in a lease agreement.
Renewal Period:
Specifies the new lease term, including the start date and end date.
Rent Amount:
Outlines the new or continued monthly rent amount.
Security Deposit:
May mention if the security deposit amount changes or remains the same upon renewal.
Termination Clause:
May include a reference to the termination clause outlined in the original lease agreement or mention any changes to the termination policy.
Signatures:
Includes space for both the landlord and also tenant to sign the agreement.
Benefits:
Convenience:
Provides a quick and easy way to formalize a lease renewal between a landlord and tenant who already have an existing agreement.
Clarity:
Helps ensure both parties are aware of the new lease term and also any changes to the rent or other conditions.
Efficiency:
Saves time and effort compared to drafting a completely new lease agreement.
Standardization:
Using a template can help ensure consistency across different lease renewal agreements you use as a landlord.
