Lease Forms come in two types based on duration: fixed-term and month-to-month leases. If you’re not sure which is yours, it’s most probably fixed-term, since these are the most common types. Also, an end date on the contract is a dead giveaway.
Fixed-term contracts legally allow the lessee (the tenant or contractor) to pay for and use the property for the duration of the lease time. If you want to extend the duration of this period before the term expires, you will need a lease renewal form.
To help you in this regard, here are some useful samples of lease renewal forms you can download for free.
Lease Renewal Agreement Form
Lease Renewal Inspection Form
Lease Renewal Form in PDF
Residential Lease Renewal Form
Free Lease Renewal Form
Fixed-Term vs. Month-to-Month Leases
Fixed-term leases are the most popular types in the rental business for some obvious reasons.
Pros of Fixed-Term Leases
- For tenants. It is stable. As long as you pay the rent on time, you cannot be evicted unless you break the contract agreements.
- For landlords. It is cost-effective and gives financial security, since this arrangement brings in a steady flow of rent.
Cons of Fixed-Term Leases
- For tenants. Breaking the lease contract early on in the term still obligates you to pay for the whole duration whether you make use of the property or not.
- For landlords.You cannot evict a tenant without major, valid grounds for doing so. You’re stuck with them.
To eliminate the need for renewal forms in the first place, you might be interested in drafting Month to Month Lease Forms instead. This kind of agreement renews (or “rolls over”) every 30 days, so there is no need for a renewal form.
Pros of Month-to-Month Leases
- For tenants. This allows you a certain amount of flexibility to stay for an indefinite amount of time or move on without extra payment or much notice.
- For landlords.This kind of lease can be easily converted to a long-term, fixed lease.
Cons of Month-to-Month Leases
- For tenants. It’s unstable since it also gives your landlord the flexibility to abruptly terminate your contract should they have another, more urgent need for the unit. Also usually more expensive, for the following reason:
- For landlords. More expensive, as it requires you to re-advertize and prepare the apartment for a new tenant every time a short-term tenant leaves. A one-way solution is to charge tenants higher fees for short-term leases.
Rental Property Lease Renewal Form Example
Landlord Tenant Lease Renewal Form
Month to Month Lease Renewal Form
Facility Rental Application Renewal Form
If you have a fixed-term lease you want to change to a month-to-month contract, you can download and insert the Month to month lease renewal form (provided in the list above) as an addendum to the original contract.
Other free forms we provide for lease contracts involve terminating leases. To start with, check out these Lease Termination Forms.
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