A lease extension letter is a document that is used to request an extension of a current lease agreement. This type of letter is typically written by a tenant who wishes to continue renting the property beyond the original lease period.
There are many reasons why a tenant might want to extend their lease. They may have a strong desire to continue living in the property due to its location or other favorable features. Alternatively, they may not be ready to move out and are seeking more time to find a new place to live.
Regardless of the reason, it is important for a tenant to clearly communicate their request for a lease extension to their landlord. This can be done through a formal lease extension letter.
A lease extension letter should include the following information:
- The current lease agreement details, including the property address and the original lease period
- The request for an extension of the lease, including the desired length of the extension
- The reason for the request, such as a desire to continue living in the property or a need for more time to find a new place to live
- Any changes to the terms of the lease that the tenant is requesting, such as an increase in rent or the addition of a new roommate
- The tenant's contact information, including their phone number and email address
It is important to be respectful and professional in a lease extension letter. The landlord is under no obligation to grant the extension, so it is important to present a compelling case and show that the tenant is responsible and reliable.
If the landlord agrees to the extension, they will likely provide a new lease agreement to be signed by both parties. This new agreement will outline the updated terms of the lease, including any changes that have been agreed upon.
In conclusion, a lease extension letter is a useful tool for tenants who wish to continue living in their current rental property beyond the original lease period. By clearly communicating their request and presenting a compelling case, tenants can increase the chances of obtaining a lease extension and continue enjoying the benefits of their current living arrangement.
Lease Extension Letter Example: 4 Templates
It should be sent by certified mail, to ensure that it is received by the landlord in time. The minimum notice required to renew a lease will vary by local laws. Explain in your own terms. Include detailed instructions on what the tenant must do before leaving in this written confirmation. If you are unsure whether you are affected, be sure to consult a local attorney. Save time If your tenant plans to move out, you need plenty of time to close out the existing renter and get the property ready for the next, prepare your listing, advertise the property and screen new prospective renters. Since there may be a deadline for the lease extension, a return request will prove that the letter was sent and received on time.
Lease Renewal Letter & Extension Agreement
Here are some more pointers and things to take into account when negotiating with your tenant. One way to minimize that stress is to keep reliable tenants around with a lease renewal. How to keep your current tenants According to the Zillow Group Consumer Housing Trends Report 2018 , nearly half 46% of all renters who moved within the past 12 months already have plans to move again — now or within the next year. Renewing a lease generally means signing your existing tenant to a new lease with terms that are the same as or similar to their current lease. If you agree, please send me your acceptance in writing to the above address on or before DATE. If you wish to report an issue or seek an accommodation, please For listings in Canada, the trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association CREA and identify real estate professionals who are members of CREA. It should be noted that lease payments are not covered by lease agreements.
Writing a Good Lease Extension Letter (with Sample)
If the tenant remains on the property but refuses to pay rent or otherwise violates the terms of the lease, you may have to consider landlord-tenant laws to determine the best course of action. If they keep paying rent — which you keep accepting — some places may consider that the same as renewing a lease. If your current tenant pays rent on time and maintains the property , then why search for a new one? Within the next few months, I intend to start a new work. You can mail a new lease contract as well as your written acceptance to the aforementioned address. The lease on my premise expires on the Date of expiration of the lease , and I would like to renew it until Renewal of the lease date. Generally, a month-to-month lease will automatically renew each month unless either you or the tenant notify the other of their intention to terminate the lease. In other places, the requirement can be 90 days notice.
Focus on terms and conditions. Depending on your location and the original lease, you will generally have 30 days before the end of the lease to notify a tenant that you will be terminating their tenancy. The landlord is required to comply with your request if it was included in the original lease. For example, the landlord or tenant may want to extend the lease for one more year. Special Consideration These reasons may be mentioned in the letter. If the tenant has changes they want such as new flooring, appliances or to have the apartment painted, this is the time to mention it.
