This tenancy agreement is a document used for a landlord and tenant to extend the term of a tenancy agreement that will expire for an additional term. The renewal agreement allows the lessor and tenant to continue the lease while giving them the opportunity to make all necessary changes to their original lease, such as new residents. B, payment rules or terms. When a tenancy agreement expires, if the landlord allows the tenant to stay, the lease is converted into a monthly contract. However, the use of a lease renewal agreement allows the parties to establish another long-term agreement with the same terms or modifications as the original lease. This document can be used to renew any type of leasing, including commercial, residential or short-term leases. If the tenant wishes to accept the terms of renewal mentioned above and accept the terms of this document, he must sign the “Tenant`s Signature” line and provide the “date” of his signature to the lines indicated accordingly at the end of this document. The client must respond within the time described in the letter. Depending on the time of reflection, the tenant may decide to submit a counter-offer to the landlord. If so, it may be best to schedule a meeting with the tenant to reach an agreement and reach a verbal agreement. The “3rd lease” point is set in order to attach to this document the initial lease agreement shared by the parties to the renewal.
This task can be accomplished by referring to the renewal of the lease and then rewriting its validity date to that article. Two empty lines were provided, so that the month, the double-digit calendar day, and then the double-digit year, which is listed as the validity date in the original lease, can be marked in “III.” The rent. For both residential and commercial tenants, it is important to understand the terms of a renewal option and negotiate for an option if it is not initially included in a tenancy agreement. The lessor mentioned in the first article must sign the “Lessor`s Signature” line to approve and conclude the renewal contract defined above.