As a tenant, it’s important to understand the terms and conditions of your tenancy agreement to avoid any misunderstandings or disputes with your landlord. A tenancy agreement renewal is a common occurrence when renting a property, and it’s essential to have a written agreement to avoid any confusion when it comes to renewing your lease.
A tenancy agreement renewal is a process whereby the original tenancy agreement is extended for a further period of time. This ensures that the tenant and landlord continue to adhere to the terms and conditions of the original agreement.
If you’re looking to renew your tenancy agreement, it’s important to review the current agreement and determine if any changes need to be made. You should also ensure that you communicate with your landlord regarding the renewal, and both parties should sign a new agreement to make it legally binding.
Here’s a sample of a tenancy agreement renewal:
TENANCY AGREEMENT RENEWAL
This tenancy agreement renewal (the “Agreement”) is made and entered into between ___________________ (the “Landlord”) and ___________________ (the “Tenant”) on ___________.
RECITALS
WHEREAS, Landlord and Tenant entered into a tenancy agreement (the “Original Agreement”) on ____________, which expires on ___________.
WHEREAS, Landlord and Tenant desire to renew and extend the term of the Original Agreement.
NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the parties agree as follows:
1. Renewal of Tenancy. The Original Agreement is hereby renewed and extended for a further period of _______________ commencing on ___________ and ending on ________________.
2. Rent Payment. Tenant shall pay rent in the amount of $________________ per _______________ due on ____________.
3. Security Deposit. The security deposit in the amount of $_________________ shall be retained by the Landlord and applied toward any damages, expenses, or unpaid rent due under this Agreement.
4. Renewal Term. The terms and conditions of the Original Agreement shall remain in full force and effect during the Renewal Term, except as modified by this Agreement.
5. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of _____________.
6. Signatures. This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which shall constitute one and the same agreement. Signatures transmitted by facsimile or other electronic means shall be deemed effective as original signatures.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.
Landlord:
______________________________________
Tenant:
______________________________________