Renewing a lease agreement is a common occurrence in the rental industry. Landlords and tenants alike benefit from having a clear and concise document that outlines the terms and conditions of their rental relationship. When it comes time to renew a lease agreement, having a sample to work from can be incredibly helpful.
A sample of a renewal of lease agreement should include the following key components:
1. Identifying Information
The renewal agreement should begin by identifying the parties involved, including the name and address of the landlord, tenant, and property. In addition, it should state the original lease start and end dates, as well as the new start and end dates of the renewal term.
2. Rent and Fees
The renewal agreement should clearly spell out the rent and any other fees that the tenant will be responsible for during the renewal term. This includes any late fees, pet fees, or other charges that may apply.
3. Maintenance and Repairs
The renewal agreement should outline the responsibilities of both the landlord and tenant when it comes to maintaining and repairing the rental property. This includes who is responsible for routine maintenance tasks, such as lawn care and snow removal, as well as who will pay for any repairs that are needed.
4. Utilities and Services
If the tenant is responsible for paying any utilities or services, such as water, electricity, or cable, the renewal agreement should clearly state this. It should also outline any changes to the utility or service providers that may occur during the renewal term.
5. Move-Out Procedures
Lastly, the renewal agreement should include information regarding move-out procedures at the end of the renewal term. This includes any notice requirements, security deposit refunds, and any other relevant information.
In conclusion, having a sample of a renewal of lease agreement can be a valuable resource for landlords and tenants. By including all the necessary components, such as identifying information, rent and fees, maintenance and repairs, utilities and services, and move-out procedures, both parties can have a clear understanding of their rental relationship for the renewal term.