How To Renew Your Lease

Now that your lease has expired, you are faced with two options – either to find a new house or to renew your lease. If you think that renewing your lease is the best option, here’s how you can go about getting another year at your apartment or home unit.

Assess your housing conditions. First of all, try to take the time to determine whether it is better for you to find a new house or to renew your lease. Some people extend their lease simply because they have already become accustomed to their home or because they do not want to take the extra effort to find a better place. Keep in mind, however, that there are plenty of great places just waiting for you, if you take the time and effort to look. The price of housing has also decreased, which is why you have good chances of finding a cheaper house or apartment if you just take the time to look. And with the present economic crisis, a good but inexpensive home should always be considered. However, if you already have what you think is the most competitively priced and convenient house, then you should renew your lease.

Check the lease documents. Next, get your personal copy of the lease documents and read the provisions for renewing the lease. Usually, the lease contract will specify the time span in which you are required by law to stay in the house. Some lease contracts are more detailed, however, and will give provisions on how you should proceed in case you want to renew your lease. Checking the lease documents does not only ensure you that you have the right to renew the lease, but will also give you an idea of what rights your landlord have as well. Usually, this includes the right to change the terms and conditions for the lease.

Write to your landlord. Next, create a formal letter to your landlord stating your desire to renew the lease. Also ask for a meeting with the landlord so that the two of you can discuss the new conditions governing the renewal of the lease on your home.

Negotiations. Remember that with a new lease are new terms and conditions. You will have to specify the time duration for the lease and the price for the lease. You can also use your past records as a tenant as a bargaining chip for the lease. Some landlords will actually lower the rent price if you have been a particularly commendable tenant.

Finally, make sure that you know the rules that govern the particular city where you live. There are states that have rent control laws, while there are others that do not have. If necessary, you should ask for a consult with a lawyer to help guide you on what you can and cannot do while renewing the lease. Verifying the legalities of your renewed lease is the best way to ensure that you will be able to safely enjoy your home without risks of being thrown out or experiencing sudden rent increases.


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