Hi good afternoon everyone,
It's almost time to renew the lease of my 2nd Floor tenants, which i am not really inclined to do, but their lease will expire Sept. 1st, and i consider is not the best time of the year to find a tenant and specially someone that will be willing to pay 1st, Last and Security... So they have a year lease, i am planning to renew for 6 month, that means it will expire on 3/1/2022 which is the best times to find a tenant, don't you think ?
My reasons for not renewing are not major or safety hazards nor healthy issues, they pay on time but they are not following the lease at it fullest...
Is this letter to offer a renewal OK ??
RENTAL AGREEMENT RENEWAL
1. Vital Information Date of Original Agreement: ______________________
Landlord: _______________________________ ______________________________
legal name phone number
city, state zip
Non-tenant Cosigner: _____________________________________________________________________
address short description
city, state zip
Names of all occupants (and ages of all minors < 18 years old):
2. Terms Tenant and Landlord hereby agree to extend their fixed term lease
c for another year, through ______________________
c for 6 month, through _________________________
c on a month-to-month at will basis
under all the same conditions and with all written modifications still in effect.
The parties hereby agree to be bound:
Landlord: _________________________________ Tenant: _____________________________________________
Date: ___________________ Tenant: _____________________________________________
Cosigners (if any): ________________________________________
sign (use whitespace for add’l cosigners)
Do i have to add any rent increase here?? How long do i give them to reply to me ?
If they decided that Yes, i should give the same Lease of last year at least 30 days before, right ? And just changing the lease timeline terms and including the raise? Right now they pay 1895, i will increase it to 1960 (to keep it under the market rent and other reasons)...
Please any advise will be welcome.