How much time Tenant should be given for signing a lease renewal

Question

Folks,

Once I provide a renewed lease with the new increased amount, within how many days, they should sign or deny the new lease agreement.

Thanks,

Sam

Billy Smith · Answer

My lease says 45 days to notify of not renewing the lease ,I am good with 30 days with the current market .The issue for me I show a dirty house but it will still get a renter usually ,that way I miss no rent money one moves out then one moves in .The location for me keeps it rented ,any issue I fix ASAP ,paint as needed .

Nathan Gesner · Answer

That's up to you, but your deadline to respond should be clear and stated in writing. Whatever timeline you decide on, I think it's more important for them to respond no later than XX days prior to lease termination.

If their lease ends July 31, you could offer them a renewal option on June 30th and give them until July 1 to respond. If they elect not to renew, you will have 30 days to prepare for turnover, market to new renters, decide to sell, etc. If you don't offer the option to renew until July 1, then you may want to require a decision no later than 7-14 days so you still have time to react if they choose not to renew.

Ron Brady · Answer

We notice residents 80 days prior to the end of lease and give them 15 days to accept or deny. If they accept, we send lease amendment and as them to sign within 5 days. Thus, 60 days before the end of one lease, the next one is executed or we’re gearing up to get a new resident.

Colleen F. · Answer

@Sudhir K. I provide a letter with options that needs to be signed if they are not renewing and just an email if they are. After that I provide a lease with 1 week to sign. A lease signed by 1 party is valid in my state and sending or receiving rent also makes an unsigned lease binding but I like the lease on file so both parties know what it says..

Greg M. · Answer

I typically give them 2-4 weeks to confirm they want to renew and sign a new lease.

Whatever deadline you pick, make sure it will be before the minimum number of required days for notice of non-renewal so they can be out at end of original lease.

How much time Tenant should be given for signing a lease renewal

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