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Updated about 6 years ago on . Most recent reply

User Stats

9
Posts
2
Votes
Vladimir K.
  • Cambridge, MA
2
Votes |
9
Posts

Lease renewal in Mass

Vladimir K.
  • Cambridge, MA
Posted

My tenants are willing to renew, I would like to renew too, all conditions are the same. My current lease doesn't have a renewal option, only at will one after expiration. I would like to renew for another term, not at will. I would like to sign the renewal agreement well before the expiration of the current lease. My question is how to manage the security deposit? Can I just keep it in the escrow account and send the tenants the account statement along with a check for the interest? Do I need to mention something about the security deposit in the renewal agreement? 

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