When the end of a lease contract approaches, tenants and landlords alike may find themselves scrambling to make a decision about the next step: do they sign a new lease agreement, or do they go their separate ways? For tenants who wish to renew their lease, the best way to communicate that intention is through a letter of intent to renew the lease contract.
First and foremost, it is important to check the lease agreement to determine if there are any specific guidelines for renewing the lease. In some cases, leases may auto-renew unless the tenant or landlord notifies the other party of their intention to terminate the agreement. In other cases, the lease may require a certain amount of notice in advance of the end of the lease term in order to renew the contract.
Once the lease terms have been established, the letter of intent should include several key points. It should clearly state the tenant’s intention to renew the lease, including the proposed length of the new lease and any changes to the terms of the agreement, such as rent increases or modifications to the security deposit.
Additionally, the letter of intent should include any requests or requirements the tenant may have for the landlord, such as repairs to the property or upgrades to appliances. It is important to be reasonable and realistic with these requests, as they may impact the landlord’s decision to renew the lease.
As always, it is crucial to be professional and polite when drafting a letter of intent to renew a lease. It is a business communication, not a personal one, so it is important to maintain a professional tone throughout the letter. This includes addressing the landlord by their proper title and including all necessary contact information, such as a phone number and email address.
While a letter of intent to renew a lease is not legally binding, it is an important step in the leasing process. By clearly communicating their intentions and desires for the new lease term, tenants can help ensure a smooth transition into the next phase of their tenancy.