ContractsCounsel has assisted 220 clients with lease renewal agreements and maintains a network of 169 real estate lawyers available daily. These lawyers collectively have 23 reviews to help you choose the best lawyer for your needs. Customers rate lawyers for lease renewal agreement matters 4.99.
A lease renewal agreement is a lawfully binding contract extending the term of an existing lease agreement between a tenant and a landlord or a property owner. This agreement offers certainty and clarity for both parties involved, summarizing the terms and conditions of the renewed lease agreement. In this blog post, we will discuss the different aspects of a lease renewal agreement, its essential components, and the importance of a well-drafted lease renewal agreement.
Some key elements of a lease renewal agreement are as follows:
Property owners who handle their properties can utilize online lease templates to fill out the necessary information. However, property managers or owners should consult a local attorney to verify the document's accuracy before sending it to the tenant. Below are some points that specify the importance of a lease renewal agreement.
Below are the steps required to draft a legally valid lease renewal agreement:
A lease renewal agreement is a necessary document that facilitates the extension of a tenant's stay in a rental property. Also, by clearly defining the terms and conditions of the renewed lease, a lease renewal agreement provides safety and stability for both owners and tenants. Ensuring that the renewal agreement contains all the necessary components and is well-drafted is essential for maintaining a positive landlord-tenant relationship and avoiding potential disagreements.
If you want free pricing proposals from vetted lawyers that are 60% less than typical law firms, Click here to get started. By comparing multiple proposals for free, you can save the time and stress of finding a quality lawyer for your business needs.
ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.
Experienced Attorney with an MBA in Finance who provides a business-oriented mindset and thrives in a collaborative environment with a-typical challenges. Possesses exceptional skills in legal research, drafting and enforcing contracts, skillful in negotiations and mediations, drafts extremely persuasive pleadings, attacks depositions with zeal for my clients. Experience includes Business Management and IT Consulting with a successful track record managing outside relationships, associated costs, and optimizing outcomes for client(s). Effectively restructures antiquated business processes and incorporates technology and best practices to effectuate progressive outcomes for business clients. Partners collaboratively with business leaders to advance company objectives while minimizing risk to ensure internal and external compliance, increased profitability, and diverse practices. Dynamic communicator with the interpersonal skills to build trusting relationships with executives, management, and employees of various backgrounds, expertise, and styles.
G'day, my name is Michele! I work with startups, entrepreneurs and small/medium-sized businesses across the country in a wide array of industries. I help them with all of their ongoing, daily legal needs. This includes entity formation, M&A, contract drafting and review, employment, asset sale & acquisition, and business sales or shareholder exits. I'm half-Australian, half-Italian, and I've lived the last 20+ years of my life in America. I've lived all over the USA, completing high school in the deep south, graduating cum laude from Washington University in St. Louis, and then cum laude from Georgetown University Law Center. After law school I worked for the Los Angeles office of Latham & Watkins, LLP. After four intense and rewarding years there, I left to become General Counsel and VP of an incredible, industry-changing start-up called Urban Mining Company (UMC) that manufactures rare earth permanent magnets. I now work for Phocus Law where I help run our practice focused on entrepreneurs, startups, and SMEs. I love what I do, and I'd love to be of help! My focus is on providing stress-free, enjoyable, and high-quality legal service to all of my clients. Being a good lawyer isn't enough: the client experience should also be great. But work isn't everything, and I love my free time. I've been an avid traveler since my parents put me on a plane to Italy at 9-months old. I'm also a music nut, and am still looking for that perfect client that will engage me to explain why Dark Side Of The Moon is the greatest album of all time. Having grown up in a remote, and gorgeous corner of Australia, I feel a strong connection to nature, and love being in the elements.
Terry Brennan is an experienced corporate, intellectual property and emerging company transactions attorney who has been a partner at two national Wall Street law firms and a trusted corporate counsel. He focuses on providing practical, cost-efficient and creative legal advice to entrepreneurs, established enterprises and investors for business, corporate finance, intellectual property and technology transactions. As a partner at prominent law firms, Terry's work centered around financing, mergers and acquisitions, joint ventures, securities transactions, outsourcing and structuring of business entities to protect, license, finance and commercialize technology, manufacturing, digital media, intellectual property, entertainment and financial assets. As the General Counsel of IBAX Healthcare Systems, Terry was responsible for all legal and related business matters including health information systems licensing agreements, merger and acquisitions, product development and regulatory issues, contract administration, and litigation. Terry is a graduate of the Georgetown University Law Center, where he was an Editor of the law review. He is active in a number of economic development, entrepreneurial accelerators, veterans and civic organizations in Florida and New York.
Attorney Cory Barack specializes in business, real estate, probate, and energy law. He can help you with oil/gas leases, easements, property sales, drafting contracts and wills, setting up companies, and resolving disputes. He is licensed to practice law in Ohio and is located in Eastern Ohio.
A commercial contracts lawyer with over 25 years of experience (both at large law firms and in-house as general counsel of a public company)
Brittany advises startups and emerging and public companies at all stages of growth, with focuses on formation and corporate governance matters, securities, venture capital financings, M&A and other strategic transactions, commercial contracts and general corporate counseling. Brittany represents clients across a broad spectrum of industries, including technology, automotive, mobility, digital health, consumer products and manufacturing.
James Allen is a native of Birmingham, Alabama. Mr. Allen has a considerable amount of experience in the areas of domestic relations, family law, criminal law, and general civil litigation, both at trial and on appeal in state court.
Lease Renewal Agreement
Asked on Mar 21, 2023I am currently renting a property under a lease agreement that is set to expire soon. I am interested in continuing to rent the property for another term, but I am unsure if I have the legal right to renew the lease or if I need to negotiate a new lease agreement with my landlord. Therefore, I would like to seek the advice of a lawyer to clarify my options for continuing my tenancy.
You need to review your lease agreement. There may be a section that discusses renewal. Some leases are silent, other contemplate automatic renewal and others will have a specific renewal procedure. If your lease has no renewal language, the lease will terminate at the end of the term. If that is the case, you should speak to your landlord about entering into a new lease, whether under the same terms or different terms. If the lease renews automatically, you most likely have to do nothing (if there is a procedure in the automatic renewal language, follow that procedure). If there is a specific procedure to renew, you must follow that procedure. Your lease may also state that if you remain in the property after the lease expires you will be treated as a month-to-month tenant and the terms of your lease (include rent rate) will remain. The landlord or tenant in that case can terminate the month-to-month tenancy with 30 days notice from the date the rent is due. If your rent is due July 1, 2023 and, as a month-to-month tenant, you want to move out, you would notify your landlord in writing on July 1, 2023 that July is the last month you are renting from him and you will be moving out on July 31, 2023. Likewise the landlord can notify you on July 1, 2023 that July is your last month or could change the terms (such as a rent increase) effective August 1, 2023 because the tenancy is month-to-month. There is also the possibility that you would not be considered a month-to-month tenant, but a "holdover tenant". Again, check the lease for these terms. If you are a holdover tenant, the landlord would include in the lease a rental increase for holdover tenants. This is still technically a month-to-month tenancy but on more expensive terms and the landlord most likely will want you out. Check your lease for renewal provisions and follow them. If you have questions, speak to your landlord. Open communication is important in situations like this.
