Sample Lease Expiration and Renewal Letter – Standard-Lease Options
What are the terms mentioned in a Sample Lease Expiration And Renewal Letter
The Sample Lease Expiration And Renewal Letter is a letter which is written by the landlord where he or she mentions that the current lease will expire in the near future and that the lease would be renewed for a further period of a year. In this the owner informs the tenant that the cost of managing and owning the home has increased and so to cope up with the increased taxes and insurance fees, different types of lease terms are offered which the tenant is able to choose whichever will fit his or her needs.
The terns are that the lease will be extended on a monthly basis and it does not have a termination date. The tenant can choose to cancel the lease at anytime by giving 30 days prior notice. All leases terminate at the end of the calendar month.
The second option provided in the Sample Lease Expiration And Renewal Letter states that there is a shorter lease of 6 months which is provided to the tenant so he or she can move to a new home by planning in advance.
The third option is that the one year lease will be provided which has the best value.
The tenant needs to inform what type of lease he or she would opt for and that too the choice needs to be made in 10 days so that the paperwork can be completed. Incase the details are not mentioned, the month to month term will be extended.
Sample Template Preview
November 5, 1999
Re: Lease Expiration and Renewal for ___________
It is a pleasure having you as a tenant and we hope you are enjoying your home. The term of your current lease will expire soon and we would like to renew your lease for another year.
As with everything, the costs of owning and managing your home have gone up over the past year, basically due to increased taxes and insurance fees. We value you as a customer and want to keep your rent increase as low as possible so we can continue our relationship.
Therefore, we are offering several different lease terms to accommodate your personal needs. Please choose the lease term that would best fit your situation:
Month to Month Term – $XXX/month
This would extend your lease on a monthly basis with no set termination date. If you decide to cancel your lease at any time, just give us 30 days notice and the lease will terminate. All leases terminate at the end of a calendar month.
Six Month Lease Term – $XXX/month
This is a shorter term lease than our normal one year term, and allows for you to plan a future move into a new home our possibly one of our other rentals.
One Year Term (Best Value!) – $XXX/month
This is our standard lease term and the best value.
Please choose one of the above options and let us know you choice in writing within 10 days so we can complete your paperwork. If we do not receive your confirmation, we will extend your lease on the month to month term at the rates as described above.
Thank you very much and if you have any questions please do not hesitate to call. We look forward to continuing our relationship.
- checkin-out list
- Lease/Option Disclosure
- DISCLOSURE-TRANSFER TO THIRD PARTY-Lease Options
- Down Payment Installment agreement – Lease Options
- LIMITED WARRANTY DEED-Lease Options
- loan authorization
- PROPERTY LOAN INFO VERIFICATION SHEET-Lease Options
- Release of Option — MUTUAL RELEASES-Lease Options
- TENANT PAYMENT LEDGER