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HOW IT WORKS
How it works
When a renter and a landlord have enjoyed a good relationship and want to continue, they'll use a Lease Renewal Agreement. If a lease is expiring a Lease Renewal sets down the terms of the new lease agreement between landlord and tenant.
You've got a great apartment, and your landlord thinks you're a great tenant. Or maybe you're the landlord with a tenant you want to keep. In either case a Lease Renewal Agreement lets you both keep renting or leasing. If a lease expires, in many cases it turns into a month-to-month tenancy. A Renewal can avoid this. A Lease Renewal Agreement allows you and the tenant to set the new term of the lease, and can also be used to make changes to the original Lease Agreement. A Renewal can address changes everyone agrees on, while all other clauses can remain the same. For a tenant, a Renewal is an opportunity to negotiate with your landlord about things that you hope to address, like that leaky faucet.
Other names for this document: Residential lease Renewal Agreement
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