What This Lease Renewal Agreement Template Covers

This lease renewal agreement template provides a comprehensive framework for landlords and tenants looking to extend an existing lease under modified terms. The template includes essential clauses such as Parties, Recitals, Terms and Conditions, Obligations of the Parties, Indemnification, and Termination, ensuring that both parties understand their rights and responsibilities during the renewal period.

When to Use a Lease Extension Contract

Landlords and tenants should consider using this lease renewal agreement template when they wish to extend the duration of an existing rental agreement. It is particularly useful in scenarios such as when the original lease is nearing its expiration date, when both parties agree to adjust the rental terms, or when the tenant has been a reliable occupant and the landlord wants to retain them. This agreement is also beneficial in situations where the tenant needs a tenant lease renewal form to formalize the extension.

What's Included in This Rental Agreement Renewal Template

• Parties: Clearly identifies the landlord and tenant involved in the agreement.
• Recitals: Outlines the background and purpose of the lease renewal.
• Terms and Conditions: Specifies the new rental terms, including rent amount and payment schedule.
• Obligations of the Parties: Details the responsibilities of both the landlord and tenant during the lease extension.
• Indemnification: Provides clauses that protect both parties from potential liabilities.
• Termination: Outlines the conditions under which the lease can be terminated before the renewal period ends.

Key Landlord Tenant Lease Extension Provisions

• Notice Period: Specifies how much notice must be given before termination, ensuring both parties are aware of their obligations.
• Renewal Start and End Dates: Clearly defines the duration of the lease renewal, preventing any misunderstandings.
• Deposit Requirements: Details any changes to security deposits that may be required during the renewal period.
• Governing Law: Indicates which jurisdiction’s laws will govern the lease renewal agreement, providing clarity in legal matters.

Disclaimer: This template is for informational purposes only and does not constitute legal advice.