Sample Lease Expiration and Renewal Letter – Standard-Work For Equity
Writing the lease renewal letter
When you prepare a lease agreement it is generally for just a few years. After that the deal is either terminated or renewed. And it is duty of the landlord to notify the tenant about this. So, if you are a landlord and want to renew the lease that is about to expire, you should send a renewal letter to your tenants. It should be sent at least 30 to 60 days before the date of expiry. In some lease agreements it is mentioned that how many days should be given to the tenant to renew the deal. So, you should keep that in mind.
When you are about to write this letter, there are a few things you should address in it. You would obviously inform the tenant that on this date the lease will expire. So, if he wants to renew it he should do so before that date. Now in most cases the renewal is done with a few or more changes in the original agreement. As a landlord you would want to increase the rent as per the present market trend. You will have to inform this in the letter and you should also mention how much the new rent value will be. Besides that there might be some issues you want to discuss with the tenant before the renewal. You should mention that too in the letter.
If you want you can download a sample lease renewal letter from the internet and modify it as per your requirements.
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.
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