Renewal clause resediential lease

Other Names: Lease Extension Agreement Rental Agreement Renewal Rental Agreement Extension Lease Renewal Form Lease Extension Addendum Lease Renewal Letter Residential Lease Renewal Agreement Lease Extension Form Leasing Agreement Renewal

What is a Lease Renewal Agreement?

A Lease Renewal Agreement is a legally binding contract to renew an about-to-expire lease for an additional period. Lease Renewal Agreements can be used to extend the existing Lease Agreement for another term or to modify the terms with renewal, such as to increase rent for the new lease period. Lease Renewal Agreements, also referred to as Lease Extensions or Lease Renewals, are a convenient way for a landlord and tenant to continue a rental agreement past the original contracted period without creating a completely new Lease Agreement and to solidify any changes to the previously agreed-upon terms. Lease Renewal Agreements typically include information about the space being rented, state the original terms alongside any changes for the renewal (such as price adjustments), and what each of the parties involved have the right to and are responsible for when it comes to the property. Overall, these forms are integral to protect both tenant and landlord throughout a rental.

When to use a Lease Renewal Agreement:

• You are a landlord who wants to invite your tenant to renew or extend their lease.
• You are nearing the end of your lease and want to ask for a renewal and/or extension.
• You want to change the previously agreed-upon terms in your lease so it better suits your needs or situation.

Sample Lease Renewal Agreement

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