Letter Of Extend Tenancy Agreement

Even if this letter is only a simple formality, as required by his lease, you can still use it as an opportunity to improve your conditions, as indicated in our letter below. The frequency of payment and other conditions must be clearly defined in an addendum to the rental agreement. In the event of the expiry of a lease, the lessor must decide whether or not to renew the contract. If the tenant pays the rent on time, takes care of the property and was a good tenant, the landlord may decide to offer him a lease renewal letter. Issuing this letter to a tenant before the lease expires is a great way to show the tenant that you still want them to live in your property. Here you will find everything you need to know about a leasing renewal form. Smart landlords will know that there will be a flood of rental properties (commercial and private) during and especially after an economic downturn, and will encourage long-term tenants and help them reach a viable and lasting agreement. The answer is no, he doesn`t. Landlords can terminate their tenant`s rental agreement without justification as soon as the existing lifespan expires. They are not required to renew or renew leases unless this is stated in a written agreement. However, if a lessor opts for an extension of the lease agreement, it may also include changes in the rental price or in the terms of the existing lease.

For landlords, it is considered good business practice to send a lease renewal letter 60 days before the lease agreement expires.