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Lease Renewal Agreement template
Lease Renewal Agreement sample


What is Lease Renewal Agreement?

Lease Renewal Agreement Extends the terms of an existing lease, specifying renewal options, rent adjustments, and any new terms.



Sample template:



LEASE RENEWAL AGREEMENT


This Lease Renewal Agreement (hereinafter the "Agreement") entered into effect this __ day of ________, 20__, is by and between Sarah Johnson, having her principal address at 123 Elm Street Apartment 4B (hereinafter the "Landlord"), and Robert Anderson (hereinafter the "Tenant"). Collectively, the parties may be referred to as "Party" or "Parties."

WHEREAS, the Landlord and Tenant entered into a Lease Agreement dated _______, 20__ (hereinafter the "Original Lease") pertaining to the premises commonly known as 123 Elm Street Apartment 4B (hereinafter the "Premises");

NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, and intending to be legally bound, the Parties agree as follows:

1. LEASE RENEWAL TERM

1.1. Renewal Term


The Original Lease is hereby extended for a period of _______ months/years commencing on the __ day of ________, 20__ and ending on the __ day of _______, 20__ (the "Renewal Term"), unless sooner terminated in accordance with the terms of the Original Lease or this Agreement.



2. RENT

2.1. Rent Adjustment


Effective as of the commencement of the Renewal Term, the monthly rent payable by the Tenant to the Landlord for the Premises shall be adjusted to $____________. The Tenant shall continue to pay rent in accordance with the terms and conditions of the Original Lease, except as modified by this Agreement.



3. NEW CONDITIONS

3.1. Additional Provisions


[If there are any new conditions, provisions or modifications, insert here; or state "None" if there are no changes.]



4. GOVERNING LAW

4.1. Compliance with Laws


The parties shall comply with all applicable federal, state, and local laws, rules, and regulations governing the leasing of the Premises.



5. ORIGINAL LEASE

5.1. Entire Agreement


This Agreement and the Original Lease, as modified herein, constitute the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior negotiations, understandings, and agreements, both written and oral, between the Parties.



5.2. Lease Terms


Except for those terms expressly modified herein, all other terms, provisions, and conditions of the Original Lease shall remain in full force and effect during the Renewal Term. In the case of any conflict between the provisions of the Original Lease and this Agreement, the terms of this Agreement shall control.



6. COUNTERPARTS AND ELECTRONIC SIGNATURES

6.1. Multiple Counterparts


This Agreement may be executed in counterparts, each of which will be considered an original and together will constitute a single instrument.



6.2. Electronic Signatures


This Agreement may be executed by electronic means, and the parties agree that such electronic signatures shall have the same legal effect and enforceability as if executed with an original hand-written signature.



IN WITNESS WHEREOF, the Parties have executed this Lease Renewal Agreement on the date and year first above written.


___________________________ __________________________
Sarah Johnson (Landlord) Robert Anderson (Tenant)


_____________________
Date

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Common Sections of a Lease Renewal Agreement


In this Lease Renewal Agreement, you will see the following sections:

  1. Lease Renewal Term
  2. Rent
  3. New Conditions
  4. Governing Law
  5. Original Lease
  6. Counterparts and Electronic Signatures


Analysis/Summary of each section

  1. Lease Renewal Term : This section states that the original lease is being extended for a specific period, starting and ending on certain dates. It's like extending a subscription to a magazine for another year.

  2. Rent : This part explains that the monthly rent will be adjusted to a new amount, and the tenant will continue to pay rent according to the original lease terms, except for the changes made in this agreement. It's like getting a new price for your magazine subscription but still paying the same way as before.

  3. New Conditions : Here, any new conditions, provisions, or modifications to the original lease are mentioned. If there are no changes, it will say "None." It's like adding or changing some rules to your magazine subscription, such as delivery times or additional content.

  4. Governing Law : This section states that both parties must follow all applicable federal, state, and local laws, rules, and regulations related to leasing the premises. It's like making sure you follow the rules and guidelines set by the magazine publisher and the postal service for your subscription.

  5. Original Lease : This part clarifies that the original lease and this renewal agreement together make up the entire agreement between the parties. All terms from the original lease remain in effect, except for those modified in this agreement. If there's a conflict between the original lease and this agreement, this agreement takes precedence. It's like having a new set of terms for your magazine subscription that replaces some old terms but keeps others.

  6. Counterparts and Electronic Signatures : This section explains that the agreement can be signed in multiple parts, each considered an original, and that electronic signatures are legally valid and enforceable. It's like signing up for a magazine subscription online and having your digital signature count as a valid agreement.

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