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.
Loading...