Lease extension letter. Extension of Lease Agreement Letter (Sample) // Get FREE Letter Templates (Print or Download) 2022-12-12

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A lease extension letter is a document that is used to request an extension of a lease agreement that is set to expire. This type of letter is typically written by the tenant and addressed to the landlord or property owner. The purpose of the letter is to request an extension of the lease for a specific period of time, usually six months to a year.

There are several reasons why a tenant may wish to request a lease extension. For example, the tenant may be in the process of searching for a new home or apartment, but has not yet found a suitable place to move. In this case, a lease extension may provide the tenant with the necessary time to find a new residence. Alternatively, the tenant may be content with their current living situation and wish to remain in the same location for an extended period of time.

When writing a lease extension letter, it is important to be professional and concise. The letter should begin with a formal greeting, such as "Dear Mr./Mrs. [Landlord's Name]," and should include the date and the tenant's contact information. The body of the letter should clearly state the reason for the request, the desired length of the extension, and any other relevant information. It is also a good idea to include a copy of the current lease agreement, as this will help the landlord to understand the terms of the current agreement.

It is important to remember that the landlord is under no obligation to grant a lease extension, even if the tenant has been a good tenant. However, if the landlord is willing to consider the request, it is important for the tenant to negotiate the terms of the extension in advance. This may include agreeing to a rent increase or making certain repairs or improvements to the property.

In conclusion, a lease extension letter is a useful tool for tenants who wish to remain in their current residence for an extended period of time. By following the guidelines outlined above and negotiating the terms of the extension in advance, tenants can increase their chances of successfully extending their lease.

Extension of Lease Agreement Letter (Sample) // Get FREE Letter Templates (Print or Download)

lease extension letter

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. Here are some more pointers and things to take into account when negotiating with your tenant. Unless there are other changes listed in the addendum, the remaining portion of the lease will remain intact. Explain in detail your terms and conditions. The amount of rent must be entered as well depending on whether or not the rent will change or remain the same.


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Lease Renewal Letter & Extension Agreement

lease extension letter

The tenant also has ample time to find another place to live before their current lease expires. According to our contract any change needs to be made in advance of 30 days before the lease expires. If you have a reliable tenant and want to continue renting to them, consider renewing their lease to avoid the stress that comes with finding a new tenant. If the landlord is a property manager who works for a large real estate corporation, the tenant may not have a very good chance of negotiating the rate. Phone and cable services should be stopped.


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Sample Lease Extension Letter

lease extension letter

For example, if the monthly rent will increase or if the landlord has decided to allow pets, the terms need to be clear, so the tenant has no doubt about what the lease extension will include. Since the landlord loses money while the property is vacant, you might be able to negotiate a lease extension. Analyze the seasonality and the present rental market. You can send your acceptance in writing and a new contract lease to the above address. In order for a lease extension letter to be clear, there are key elements that should be included. Within the next few months, I intend to start a new work. Step 1 — Gather the Original Lease Find the original lease and look it over to see when it ends.


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Writing a Good Lease Extension Letter (with Sample)

lease extension letter

The addendum is added to the lease that is currently in effect with any changes such as the extension period and the new rent amount. It should be written in formal business style and sent by certified mail with a return request. Depending on the preference of the parties any of the options should suffice. Your tenant can also choose not to sign a lease renewal letter. If the extension will keep the same terms as the original lease, that should also be mentioned.

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Lease Extension Letter Example: 4 Templates

lease extension letter

This gives you a financial benefit because there is no need for you to advertise for tenant, background check, or screen. Some property managers will send a letter in the mail asking the tenant if they would like to stay on the property for a longer period of time with contact information if they wish to do so. Eliminate the cost of finding a new tenant The cost of finding a renter can be high. 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. Does a landlord have to renew a lease? If the tenant or their visitors have damaged the property, make repairs. They will send an extensionletter to the landlord requesting to have another. Asking the renter to submit you a letter outlining their decision not to have their lease renewed should be your first step.

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How to Write a Lease Extension Letter to Landlord (with Sample)

lease extension letter

Step 4 — Sign the Addendum The landlord and tenant can agree to meet at a designated place to sign or send the document via electronic signature. If it is being sent by a property management company, it needs to be signed by the person who has been directly dealing with the tenant. 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. When the lease is about to expire, the tenant and the landlord execute an extension letter. If the landlord wants to keep the tenant on a new lease, they must inform the tenant in advance or the lease will automatically revert to a month-to-month rental agreement.

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Free Lease Extension Agreement

lease extension letter

You will also have no vacancy time. Your prospects of obtaining an extension are usually favorable if you get along well with your existing landlord and have been a model tenant. The most common change in a lease extension is the rent amount that is paid per month. Cordially describe your greetings and recommendation. Download our free landlord notice templates , including a lease renewal letter, rent increase letter and late rent notice. This can usually be done by sending the tenant a notice of termination or a non-renewal of lease letter , which confirms the lease end date and includes move-out instructions.

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lease extension letter

Explain all about the situation. Explain in detail your terms and conditions. Step 4— Landlord and tenant must include the date and their signature at the bottom of the page. I hope you will favorably consider my request and respond within two weeks. Zillow Group is committed to ensuring digital accessibility for individuals with disabilities. If your current tenant pays rent on time and maintains the property , then why search for a new one? One way to minimize that stress is to keep reliable tenants around with a lease renewal.

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