Things to know about Sample Lease Renewal Letter
What is meant by Sample Lease Renewal Letter?
Lease renewal letter is drafted by the landlord to intimate the tenant that the existing lease agreement is expiring. It proposes terms for a fresh lease agreement. These are sent at least 30 days prior to current lease’s expiration date.
This provides time to both parties (tenant and landlord) in the event the tenant wishes to move out. Lease renewal letter contains specific information regarding renewal and may be used for stating any conflicts with tenant.
Sample Lease Renewal Letter details-
- The letter is on a company letterhead in standard formal letter format.
- First field is date.
- Next fields are name and the address of tenant.
- Subject line may or may not be used.
- Salutations like ‘Dear Mr.’ followed by tenant’s last name.
- One can start letter by something like, according to review of current records the lease will expire on so and so date.
- First paragraph is used to express the letter’s exact purpose. All dates should be clear and unambiguous. A notification regarding rent hike (if any) should be mentioned. The reason for rent hike should also be mentioned. The increase is generally 4-5%.
- Second paragraph should specify any and all issues with tenant. Some issues are to be raised on lease violations form. Others can be used here.
- Final paragraph should mention the respond-by date.
- Thank tenants for their valuable time and wait for their response.
- End letter with Sincerely followed by your (landlord’s) name and address.