It seems like just yesterday that your last tenants moved into your rental. But now they have been there for almost a year and it’s time to start thinking about some AAOA landlord forms that will have to be updated by their anniversary date. In addition to running a new tenant credit check and rental background screening, some of the legal forms that will have to be brought up to date include a lease renewal agreement, pet agreement, and lease inspection report. 3 CRITICAL 2024 LEGAL FORMS YOU NEED FOR LEASE RENEWALS
LEASE RENEWAL AGREEMENT As a professional landlord, you are already aware that you need to update a lease agreement for a renewing tenant. Although you wrote a
comprehensive lease agreement when the renters first moved in, you now need to provide a lease renewal agreement for them to sign.
Click here to download AAOA’s free Extension of Lease Agreement form.
Why a Lease Renewal Agreement is so important
If the current tenant is taking good care of the property and paying the rent on time, then keeping them as renters may be the right choice. By renewing the lease, a landlord can avoid the cost of marketing and screening and will not lose rental income due to the home being vacant.
After you have run a lease renewal screening on your tenant and you have decided to keep them on as an occupant, the next step is to create a lease renewal. A lease renewal letter is generally sent to a tenant 90 days before the expiration date of the current lease.
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