Lease and rental agreements are typically made for a fixed term (e.g. one year). In most cases, at the end of the lease term, the Landlord and Tenant will either enter a new lease, or the Tenant will vacate the premises. However, under certain circumstances, both the Landlord and the Tenant may wish to extend the lease past the expiration of the lease term but would rather not enter into an entirely new lease. In this case, the Landlord and Tenant should enter a Renewal of Lease Agreement.
This Lease Renewal Option Notice is simply a written record of their agreement to extend the lease term (the rent can also be adjusted). By entering into this type of agreement, the parties can avoid many future problems and misunderstandings surrounding the renewal.
This Lease Renewal Option Notice form is professionally formatted, prepared by a top attorney, can be easily modified, downloaded instantly, includes free customer support, and is backed by our 100% money-back satisfaction guarantee.
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