Lease Renew Form can be very important
This is especially true if you are already there in the property and paying your rent on time every month.
Why do you need a form to tell the landlord that you intend to stay on and keep renting the premises ? …. For your safety. . .
Your lease may contain a provision that requires you to present a written notice to renew within a set number of days before expiration of the lease.
You may have already told your landlord of your intentions, but if you have not put it in writing, the landlord is legally free to make other arrangements.
The Notice by Lessee of Intention to Renew Lease will fulfill your obligation to give written notice.
Failure to provide it could result in:
- Increased rents: the landlord may have to keep the rental amount of the lease the same should you give notice of renewal on time but can raise the rent if you don’t.
- Eviction: Your landlord may have a new tenant waiting for your spot to a tenant who is willing to pay more.
If your lease calls for notice and you haven’t given it, you could find yourself out on the street on the last day of the lease.
- Hard feelings: the tension between you and the landlord. Your rental payments might be making loan payments, or they could constitute a good portion of your landlord’s income.
Not knowing if you are staying or going could cause your landlord to worry and develop ill-will toward you.