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Lease Renewal Agreement

Lease Renewal Agreement Template

Utilize our Lease Renewal Agreement to prolong the duration of an existing lease.

A Lease Renewal Agreement is a document that allows a landlord to extend the current rental period with a tenant.

Table of Contents

Lease Renewal Agreement: An Overview

A Lease Renewal Agreement serves as a crucial document in the landlord-tenant relationship, providing a formal mechanism to extend the existing rental period. This legal form acts as an amendment to the original lease agreement, altering its expiration date while retaining the fundamental terms established initially.

Lease Renewal vs. Lease Extension: Unveiling the Differences

While both serve to continue a rental contract, lease renewals and extensions differ in their nature. A lease renewal is essentially a new contract that updates the duration of the rental period and may introduce new terms. Conversely, a lease extension continues the current terms but extends the agreement beyond the original lease period.

Lease Renewal Terms:
While both serve to continue a rental contract, lease renewals and extensions differ in their nature. A lease renewal is essentially a new contract that updates the duration of the rental period and may introduce new terms. Conversely, a lease extension continues the current terms but extends the agreement beyond the original lease period.

Lease Extension Terms:
On the other hand, a Lease Extension Agreement maintains the same terms as the original lease but on an extended timeline. For instance, if a tenant anticipates a delay in closing on a new home, extending the existing lease for a few months might be a practical alternative to signing a new agreement.

Lease Renewal Agreement Example

lease renewal agreement example

When to Use a Lease Renewal Agreement

A Lease Renewal Agreement is aptly employed when landlords or tenants wish to continue the current leasing arrangement or modify the existing lease terms. Whether seeking to communicate intentions, request changes to amenities, or adjust rent rates, this document offers a structured approach for both parties.

Additionally, landlords or tenants can leverage a lease renewal agreement to redefine the structure of an existing lease after it concludes. This is particularly useful when contemplating a switch to a short-term or month-to-month lease agreement, allowing for adjustments without restarting the entire rental application process.

Pros and Cons of Lease Renewals:
Opting for a lease renewal presents opportunities for both landlords and tenants. The ability to amend lease terms, increase rent, or maintain a consistent security deposit are among the advantages. However, it's essential to recognize that a lease renewal commits tenants to the entire lease term, potentially leading to tenant loss if they decline to renew. In such cases, a lease extension might be a more suitable alternative.

How to Effectively Use a Lease Renewal Agreement

Initiating the lease renewal process ahead of the expiration date is crucial. While state and local laws define notice periods, providing intent at least 60 days in advance is generally recommended.

State and local laws often define how far in advance a landlord must provide notice of intent to renew or not renew before the lease expires (see table below).

State Advance Notice of Renewal and Non-Renewal (Termination) of Lease Citation
Alabama None (yearly/fixed tenancies)
30 days (month to month tenancies)
Alabama Code § 35-9A-441
Alaska None (yearly/fixed tenancies)
30 days (month to month tenancies)
Alaska Stat. § 34.03.290
Arizona None (yearly/fixed tenancies)
30 days (month to month tenancies)
Arizona Rev. Stat. § 33-1375
Arkansas None (yearly/fixed tenancies)
30 days (month to month tenancies)
Arkansas Code § 18-17-704
California 60 days (yearly/fixed tenancies where tenant has lived at least one year)
30 days (yearly/fixed tenancies where tenant has lived less than one year)
30 days (month to month tenancies)
California Civ. Code §§ 1946-1946.1
Colorado 91 days (tenancies one year or longer)
28 days (tenancies 6 months to less than one year)
21 days (tenancies 1 month to less than 6 months)
3 days (tenancies 1 week to less than 1 month)
1 day (tenancies less than 1 week)
Colorado Rev. Stat. § 13-40-107
Connecticut 3 days (yearly/fixed tenancies)
None (month to month tenancies)
Connecticut Gen. Stat. § 47a-23
Delaware 60 days (yearly/fixed tenancies)
60 days (month to month tenancies)
25 Delaware Code § 5106
District of Columbia None (yearly/fixed tenancies)
30 days (month to month tenancies)
District of Columbia Code § 42-3505.54
Florida 60 days (yearly/fixed tenancies)
15 days (month to month tenancies)
Florida Stat. § 83.57
Georgia None (yearly/fixed tenancies)
60 days for landlord (month to month tenancies)
30 days for tenant (month to month tenancies)
Georgia Code § 44-7-7
Hawaii None (yearly/fixed tenancies)
45 days for landlord (month to month tenancies)
28 days for tenant (month to month tenancies)
Hawaii Rev. Stat. § 521-71
Idaho None (yearly/fixed tenancies)
1 month (month to month tenancies)
Idaho Stat. § 55-208
Illinois 60 days (yearly/fixed tenancies)
30 days (month to month tenancies)
735 Illinois Comp. Stat. §§ 9/205, 207
Indiana None (yearly/fixed tenancies)
30 days (month to month tenancies)
Indiana Code §§ 32-31-1 et seq.
Iowa 30 days (tenancies longer than month to month)
30 days (month to month tenancies)
Iowa Code § 562A.34
Kansas None (yearly/fixed tenancies)
30 days (month to month tenancies)
Kansas Stat. § 58-2570
Kentucky None (yearly/fixed tenancies)
30 days (month to month tenancies)
Kentucky Rev. Stat. § 383.695
Louisiana 30 days (tenancies longer than one month)
10 days (month to month tenancies)
Louisiana Civil Code Art. 2728
Maine None (yearly/fixed tenancies)
30 days (month to month tenancies)
14 Maine Rev. Stat. § 6002
Maryland 90 days (yearly/fixed tenancies)
60 days (month to month tenancies)
Maryland Real Prop. Code § 8-402
Massachusetts None (yearly/fixed tenancies)
30 days (month to month tenancies)
Massachusetts Gen. Law ch. 186 § 12
Michigan None (yearly/fixed tenancies)
1 month (month to month tenancies)
Michigan Comp. Laws § 554.134
Minnesota None (yearly/fixed tenancies)
Lesser of 3 months or the time interval between rental periods (month to month tenancies)
Minnesota Stat. § 504B.135
Mississippi None (yearly/fixed tenancies)
30 days (month to month tenancies)
Mississippi Code § 89-8-19
Missouri 60 days (yearly/fixed tenancies)
1 month (month to month tenancies)
Missouri Rev. Stat. §§ 441.050-441.060
Montana None (yearly/fixed tenancies)
30 days (month to month tenancies)
Montana Code § 70-24-441
Nebraska None (yearly/fixed tenancies)
30 days (month to month tenancies)
Nebraska Rev. Stat. §§ 76-1437
Nevada None (yearly/fixed tenancies)
30 days (month to month tenancies)
Nevada Rev. Stat. § 40.251
New Hampshire None (yearly/fixed tenancies)
30 days (month to month tenancies)
New Hampshire Rev. Stat. § 540:3
New Jersey 3 months (yearly or at will tenancies)
1 month (month to month tenancies)
New Jersey Rev. Stat. § 2A:18-56
New Mexico None (yearly/fixed tenancies)
30 days (month to month tenancies)
New Mexico Stat. § 47-8-37
New York None (yearly/fixed tenancies)
1 month (month to month tenancies)
New York Real Prop. Laws § 232-B
North Carolina 1 month (yearly/fixed tenancies)
7 days (month to month tenancies)
North Carolina Gen. Stat. § 42-14
North Dakota None (yearly/fixed tenancies)
1 month (month to month tenancies)
North Dakota Century Code § 47-16-15
Ohio None (yearly/fixed tenancies)
30 days (month to month tenancies)
Ohio Rev. Code § 5321.17
Oklahoma None (yearly/fixed tenancies)
30 days (month to month tenancies)
41 Oklahoma Stat. § 41-111
Oregon 30 days (yearly/fixed tenancies, different notice and qualifications for termination after the first year of occupancy)
30 days (month to month tenancies)
Oregon Rev. Stat. § 90.427
Pennsylvania 30 days (tenancies longer than one year)
15 days (tenancies one year or less)
68 Pa. Stat. § 250.501
Rhode Island 3 months (yearly/fixed tenancies)
30 days (month to month tenancies)
Rhode Island Gen. Laws § 34-18-37
South Carolina None (yearly/fixed tenancies)
30 days (month to month tenancies)
South Carolina Code § 27-40-770
South Dakota None (yearly/fixed tenancies)
1 month (month to month tenancies)
South Dakota Codified Laws § 43-8-8
Tennessee None (yearly/fixed tenancies)
30 days (month to month tenancies)
Tennessee Code § 66-28-512
Texas 1 month (yearly/fixed tenancies)
30 days (month to month tenancies)
Texas Property Code § 91.001
Utah None (yearly/fixed tenancies)
15 days (month to month tenancies)
Utah Code § 78B-6-802
Vermont 60 days (tenancies two years or more)
30 days (tenancies two years or less)
9 Vermont Stat. § 4467
Virginia 90 days (yearly/fixed tenancies)
30 days (month to month tenancies)
Virginia Code § 55.1-1253
Washington None (yearly/fixed tenancies)
20 days (month to month tenancies)
Washington Rev. Code § 59.18.020
West Virginia 3 months (year to year tenancies)
30 days (month to month tenancies)
West Virginia Code § 37-6-5
Wisconsin None (yearly/fixed tenancies)
28 days (month to month tenancies)
Wisconsin Stat. § 704.19
Wyoming No Statute

Step 1: Send a Lease Renewal Letter
Landlords typically initiate the process by notifying tenants of their willingness to negotiate a renewal or extension. Tenants can also request these conditions, and if they choose not to renew, they should communicate their intent through written notice.

Step 2: Negotiate the Terms
Negotiations primarily rest with the landlord, but tenants can propose amendments. Once both parties agree, the terms are incorporated into the lease renewal agreement. If no changes occur, the agreement should state that the original lease remains unchanged.

Step 3: Gather Important Documents
While a lease renewal usually doesn't necessitate additional legal documents, it's prudent to compile crucial information, including the original lease agreement, the new rent amount, and any changes to terms and conditions.

Step 4: Sign the Lease Renewal Agreement
After agreement on the new terms, both parties sign the lease renewal agreement. It's imperative that everyone involved comprehends the new arrangement, and a copy of the renewed lease agreement should be retained by all parties.

How to Write (Fill) a Lease Renewal Agreement

A lease renewal agreement is essentially  the>new, so following the correct steps to complete the form is essential.

Before you fill out your lease renewal agreement, note the state you are contracting in.

the state of the rental property - lease renewal agreement

Step 1 – Enter the Date of the Agreement

1. Date of Agreement. Provide the date of the lease renewal agreement.

date

Step 2 – Write Landlord and Tenant Information

2. Landlord Information. Enter the full landlord’s name and address. Note that this is not the address of the leased property.

3. Tenant Information. Enter the name and address of each tenant.

landlord tenant information - lease renewal agreement

Step 3 – Fill in the Original Lease Details

4. Date of Original Lease Agreement. Write the date of the original lease agreement (in most cases, the date the landlord and tenant signed the original contract).

5. End Date of Original Lease Agreement. Provide the lease term’s end (expiration) date under the original lease agreement.

6. Section Number of Original Lease Agreement. This is optional. You can specify a section or paragraph number in the original lease agreement allowing the lease term extension.

original agreement terms - lease renewal agreement

Step 4 – Identify New Lease Term Specifics

7. Start and End Dates. Write the start and end date of the new extended lease term.

8. Rent. State whether the rent for the new lease term changes or remains the same. If it changes, specify the new monthly rent.

9. Security Deposit. Choose whether or not there is any additional security deposit for the new lease term. If yes, state the amount of the other security deposit and when the amount is due by providing the number of days due from the start of the lease term.

10. Additional Provisions. This is optional. You can include any new provisions or modifications to existing terms in the original lease agreement.

extension details - lease renewal agreement

Step 5 – Choose Governing Law

11. Governing State Law. Our templates allow the state whose laws will govern the agreement to be pre-filled with your state of residence. 

state law agreement - lease renewal

Step 6 – Obtain Signatures

12. Landlord. The landlord provides a signature here as well as a full name.

13. Tenant(s). All tenants provide their signatures here, as well as their full names.

landlord and tenant signatures - lease renewal agreement

In conclusion, navigating the intricacies of a Lease Renewal Agreement demands a strategic and well-informed approach. By understanding the nuances and following best practices, both landlords and tenants can ensure a seamless continuation of their leasing relationship.

Frequently Asked Questions

What are the Pros and Cons of Lease Renewals?

Pros include the opportunity to amend lease terms, increase rent, or maintain a consistent security deposit. However, the cons involve the commitment of tenants to the entire lease term, which might result in tenant loss if they decline to renew. In such cases, a lease extension might be more suitable.

How can I initiate the use of a Lease Renewal Agreement?

Begin the process by sending a Lease Renewal Letter before the lease ends. State your intent to negotiate a renewal or extension, inquire about the tenant's interest in continuing, or specify that the lease will end as scheduled if no extension occurs.

What is the typical notice period for Lease Renewals?

State and local laws often define notice periods, but a best practice is to provide intent at least 60 days before the lease end date. However, adhere to specific notice requirements based on the applicable laws in your jurisdiction.

Lease Renewal Agreement Sample

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