Renewing lease. What forms to use?

4 Replies

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?

Your lease should already have renewal language in it. If all terms are staying the same other than dates, do nothing.

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.

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.

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. 

Join the Largest Real Estate Investing Community

Basic membership is free, forever.