Lease Renewal Agreement Template for Word
A lease renewal agreement is the lease continuation or extension before the current lease period expires. It is performed according to the laws of states and may include new rules and guidelines. Lease renewal is a newly drawn agreement and updates important points of the current agreement which may include rent increase, deposit increase, and duration of lease.
The template for a lease renewal agreement is given below,
Following lease agreement is drawn on [DATE] date among,
Name: Eric Mason
Address: 56 Highway Street, Savannah, US.
Tenant # 1
Name: John Rugby
Address: 759 Heaven Street, California, US
Tenant # 2
Name: Chris Legend
Address: 648 North Wales, New York, US.
Flats on 37 Heaven Street, Savannah, US.
Rules & Regulations
Rules and regulations decided for the agreement between landlord and tenants are given below,
- Renewal agreement will be applicable from the very next day of current lease expiration.
- Tenants will be held accountable for following new rules and regulations from [DATE].
- Both tenants can only inhabit their prescribed flats and cannot exchange flats with each other.
- If any dispute occurs between tenants, landlord decision will be considered the final verdict.
- Tenants are bound to pay rent within first 10 days of each month. Delay in rent will lead to warnings from landlord.
- Only 2 warnings will be issued to the tenants as 3rd warning would be eviction without deposit.
- Renewal agreement will be agreed and abide by both tenants equally.
- Tenants are forced to respect their neighbours and no complaints should be raised from them.
- Tenants should take care of each other and should not disturb the peace of other tenants.
- Any damage to the property will lead to serious consequences from the landlord.
- Repair of essentials can be done but the bill will be presented to the landlord.
- Tenants are not allowed to scheme up together against the landlord.
- Notice of eviction will be delivered 30 days before eviction so that landlord can arrange the required deposit.
- On eviction, landlord will personally observe flat and belongings.
- If landlord observe any damage to the property, he will cut amount from deposit.
- Tenants are not allowed to let any other family stay with them for more than a week.
- In case of stay of a family member for prolong period, tenants will notify landlord beforehand.
- All the birthday or celebration parties will be held on weekends to maintain peace of other flatmates.
- Rent will be delivered by hand. No online transfer or cheque is acceptable.
- Rent will only be delivered to landlord and not any other family member.
- Tenants will abide by the rules of current agreement in addition to renewal agreement.
- In case of any change in renewal agreement, tenants will directly talk to landlord.
- Tenants should abide by the rules and regulations of the society they reside in.
- Tenants are allowed to practice their religious beliefs, and no one should poke nose in their matters.
- Tenants are allowed to celebrate their religious as well as national festivals according to their rules and may also involve other tenants.
- In case of discrepancies among religious beliefs, tenants are forced to respect each other boundaries.
- Tenants are not allowed to take matter into their own hands in case of any fight or issue.
- It is compulsory to follow the guidelines as prescribed by the society they reside in.
Landlord: Eric Mason
Tenant # 1: John Rugby
Tenant # 2: Chris Legend