Renewing lease. What forms to use?

NY · Member since 2015 · 17 posts · 1 vote

My first tenant is in agreement to renew their lease. What do you all do in this situation? Do you make another copy of the original lease with new dates? Do you have a one piece of paper saying that the original lease is renewed with the new dates? Does it matter legally which way you do it?

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Max T.
Investor · Philadelphia, PA · Member since 2015 · 3k+ posts · 3k+ votes
8y
Your lease should already have renewal language in it. If all terms are staying the same other than dates, do nothing.
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Mike McCarthy
Investor · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes
8y
I use a one page lease addendum that simply says that the lease is extended for 12 months at $xx/mo. All other lease terms remain the same.
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Colleen F.Pro Member
Investor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes
8y
I re-issue the lease carrying over and showing amounts prepaid on the first page. I update any terms that are problematic or need clarification and add new end date. Usually this is only done after communication offering renewal rate and verifying they want to renew.
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Nathan GesnerBusiness Member
Moderator
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
8y
I use a one-page renewal form with the following:
1. Name, address of current tenant(s);
2. Date of original agreement;
3. New inclusive dates;
4. Rent rate (even if staying the same, I put it in writing);
5. Effective date of renewal;
6. Signed by all parties.
Most states also allow pen-and-ink changes to a contract as long as all parties sign. If that's the case in your state, you could just write a simple renewal paragraph on the original lease and get signatures.
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