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  • Updated: 07 Nov 2024
  • 2 Min Read

How to Write a Lease Renewal Letter [Free Template]

Close-up of a lease renewal agreement document with a pen resting on top, suggesting a signature is needed.

A well-structured lease renewal letter not only helps keep reliable tenants but also avoids the hassle and cost of finding new tenants. In this article, we’ll walk you through how to write a lease renewal letter and provide a free lease renewal letter template to simplify the process.

What is a Lease Renewal Letter?

A lease renewal letter is a formal document offering a tenant the option to renew their lease agreement. It usually outlines the lease end date, lease renewal date and when a tenant needs to let you know if they want to renew the lease agreement or terminate the lease.

If a tenant wants to renew their lease, they will sign this letter, and you’ll send an updated lease agreement reflecting the new lease period, including rent changes, lease term adjustments, and any other modifications to the original lease agreement.

How to Write a Lease Renewal Letter

When drafting a lease renewal letter, it’s important to be clear and concise. Here’s what to include:

  • Tenant’s name
  • Rental property address
  • Lease expiration date
  • Lease renewal date
  • New lease term (if switching to a month-to-month lease)
  • Response deadline (usually 30 days before the lease end date)
  • Contact information for lease renewal

Download our free sample lease renewal letter template for a quick and easy way to fill out these details and send it.

When to Send a Lease Renewal Letter

Generally, you’ll want to send a notice of renewal 90 days before your lease expires. Give your tenant 30 days to respond if they want to move forward with renewing the else or not. If they don’t renew, this gives you 60 days to find new tenants.

Make sure you check local landlord-tenant laws before sending a lease renewal letter. Some states have specific rules about when to send a renewal of lease letter to tenants.

Manage Leases and Rent Collection With Baselane

A lease renewal letter is the best way to keep your units filled with reliable tenants. To make the process even easier, you can manage lease agreements and rent collection all online with Baselane. Create state-specific leases for e-signing, collect rent and security deposits and even open separate banking accounts (required in some states) to hold and easily return deposits.

Watch our demo to learn more or sign up for a free Baselane account today.

Saad started his career as a Certified Public Accountant (CPA) working for a top-tier accounting firm. He was responsible for helping audit alternative investment funds. He later worked at a hedge fund where he was responsible for preparing financial statements and implementing new technology. He also ran a successful private tax practice for five years. After completing his MBA at Duke, Saad joined The Boston Consulting Group to do management consulting. At BCG his experience spanned several industries and growth projects across Pharma, Retail, and Technology companies. His passion for democratizing finances led him to Plaid, a fintech, where he worked with large Banks and Financial Institutions to make finances and money easier for all.
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