Renewing a lease agreement not only helps you retain great tenants, but is also a way to avoid turnover costs that can quickly add up. Even though you are continuing a lease arrangement with existing tenants, you still need to create a new rental lease agreement. Leases are fixed contracts, and for this reason, you cannot edit your lease end date. You will need a new lease to be signed with the updated lease dates.
In this article, we’ll go over what you should consider before sending a lease renewal letter, along with a lease renewal letter pdf you can download to send to your tenants.
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