Good, responsible tenants are not very easy to come by. As the Landlord who receives monthly payments on time, your property is in good care, then you must be satisfied with their responsibility. It is an excellent idea to offer your tenant a lease renewal letter. You can send this letter to them before the lease agreement terminates within 30 – 90 days.
Here is everything you can know about a lease renewal form and how to write it in our article. Furthermore, we provide free lease renewal notice templates to customize on your own with our document generator system. Save time in writing with us!
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How to Renew a Lease
Even though you have a good relationship with your tenant, renewing a lease is still complicated for both parties since it may require renegotiating the lease due to the financial situation of each side. When the economy is up, the Landlord may increase the rent; on the contrary, the tenant may ask for a decrease due to their current situation.
For the above reason, we would like to provide a few steps to notify the other party properly about your intention to renew your lease and remain on the premises; either the Landlord or the tenant can write this lease renewal letter.
Step 1 – Write Notice
Depending on the purpose, the lessor may send a lease renewal notice to the lessee. If the owner wants to add new terms or conditions, they may need to re-write an entirely new lease agreement.
Step 2 – Send Notice
The owner should send the letter 30 days before the expiration date to notify their renters.
Step 3 – Wait For The Response from the Tenant
The tenant should respond before the deadline stated in the letter. However, they may want to discuss the rent rate and new terms with the Landlord. Then, it is better to schedule a meeting in person to renegotiate.
Step 4 – Write The New Lease
If the lease terms are not changed, both parties can sign a simple 1-page lease renewal agreement. However, after the meeting, the lease has many changes from both the renter and the Landlord, so it is better to create a new lease agreement with additional terms.
How to Compose a Lease Renewal Letter?
Make sure that your letter includes the following parts, or you can use our Lease Renewal Letter template as a reference :
- Information about the Landlord and the Tenant: Includes name, address, and telephone number for identification purposes.
- Property Information: Subject to the occupied property and indicate its location in detail, including building number, street name, city, state, and zip code. In addition, you can mention what type of property ( flat, house or building, etc.)
- Lease Agreement Indication: Mention the original Lease agreement date and expiration date. Also, mention the fundamental relationship between sender and receiver in this lease renewal letter.
- Renewal of Lease: In this part, whether the Landlord or the renter can provide the offer to renew the lease, any changes in terms and conditions such as a rent increase/decrease, the period of rent, etc.
- Conclusion: Both parties can use this part to express their hope for acceptance and future collaboration and offer help if they would like to receive more information.
- Signature: Finally, signature, name, and current date.
💡 KEYNOTE:– It’s essential to mention your intention in the first or second line on the lease renewal notice.
– You can briefly explain the reason for the renewal if you want to ask for a change in rent rate, rent duration, conditions, etc.
– Give a timeline within which the Tenant must reply.
– Keep the letter in 1-page length. If the sender is the landlord who wants to add new terms and conditions, we recommend attaching a new lease agreement.
Samples of Letter To Renew Lease
Do you still look for a template? Here are our two examples of letters To the Tenant and the Landlord.
Simple letter of lease renewal to tenant template
For a simple letter to renew the lease for Landlords, click the Edit This Template button below to customize it. Therefore, you can review, edit your info and download it freely in high-quality PDF.
If you are a renter who is looking for the lease renewal letter to landlord sample; then our second template here is for you to edit and download it:
To rewrite a new lease agreement for adding changes in terms and conditions, check out our article for a sample:🔗Rental / Lease Agreement Templates.
If you decide to terminate your lease, you can have a look at our article 🔗Not Renewing Lease Letter (Word & Template) for ideas on how to write it. We also mention what process you should know before and after sending this letter.