NEED ADVICE ON LEASE RENEWAL

[Cynthia Dimitroff]

We need input:   Our renter has requested to extend their lease by one year in exchange for a discount--they noticed rents in the area have decreased. I researched using realtor.com and it appears March rents have decreased due to an over abundance of rentals. Our 3 bed/2 bath house is leased until May 31st for $2350 per month &  4 bed/3 bath homes in our area are now renting on average $2200  (I called 4 competitors as a prospective renter to have them adjust their prices to include yard maintenance +2 dogs.)   We currently pay $120 a month for yard maintenance.

Below is a rough draft of a letter we have written to the tenant--THOUGHTS?