RENT Magazine Q4'23

• Date the letter was written • Name and information of both the tenant and landlord • Property address and unit number • Expiration date of the existing lease • Rent amount and term of the new lease • Deadline for tenant to respond to the lease renewal letter A LEASE RENEWAL LETTER CONTAINS THE FOLLOWING DETAILS: Once the terms of the lease renewal letter have been agreed upon, it’s important that the lease agreement includes any new information about your tenants along with a raise in rent and the resulting increase in the security deposit. Additional provisions might be the day of the month the rent is due, where the payment is to be made, upgrades to the property, agreed-upon concessions, etc. Any lease addenda should also be included or deleted from the renewal agreement as necessary. PET AGREEMENT/ADDENDUM Whether you normally allow pets in your rentals or have given permission mid-lease for existing lessees to add an animal, the tenants must sign a Pet Addendum. As a landlord, you want to make sure you have a clear, current and comprehensive agreement in place to protect both your property and your renters. The addendum requires tenants to provide detailed information about their pet, including its type, breed, name, sex, age, size, and a photograph or description. This allows you to keep accurate records and monitor compliance with the agreement.



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