If the terms of the lease largely correspond to the original, a simple contract of 1 side may be signed by the parties. If the new lease has many changes, i.e. a tenant has changed, the landlord has changed, the tenant has moved to a new unit in the building, etc. a new lease should be approved between the parties. While the renewal parties (renter and tenant) have agreed to renew the current tenancy agreement, it is necessary to define the method by which this extension will be established. The article “IV. “Extension Period” contains three box instructions for documenting an effective report on this transition. Note that only one of these items can be selected. If the current lease is extended for a period of time, select the first quince box under “IV.” Extension period. As a result, the terms of the current agreement remain consistent throughout the extension and require the number of “days,” “months” or “years” of the life of the renewal, produced on the empty line of the “extending” label. Check one of the three boxes (“days,” “months” or “years”) to indicate the time unit when discussing the number that has just been reported. The current lease can be renewed, but with no fixed term.
That is, this extension can occur, while “the rent is converted into a monthly lease.” If this is the case, choose the second instruction in the “Fourth Extension Period”. Note that since a month-to-month agreement can be terminated at will, the second renewal option also requires that a predetermined number of days be indicated as the length of the period that a portion of the other party must count as termination. Therefore, if the second option has been selected, the number of “days” messages required by the resilient party must be inserted into the blank line indicated. Note that if this number of days differs from the minimum required by the state for this extension, the largest of these numbers is used as the minimum number of “days” messages to be provided by the terminating party. If none of the first two options of the “Fourth Period of Extension” adequately defines the terms of renewal of the original lease in question and activates the third checkbox in this section (marked by the word “other”). The blank line of this selection allows a direct report to be drawn up or to name an appendix with the specifics of this renewal by title. Of course, the first article identifies two parties involved in this renewal. The landlord who has appointed the tenant can renew the current lease he shares, must be named directly after the “owner” label. Continue to identify the owner by entering the postal address to which the renter delatives communications and other official correspondence regarding the property in question and this agreement. The “3rd lease” point is set in order to attach to this document the initial lease agreement shared by the parties to the renewal. This task can be accomplished by referring to the renewal of the lease and then rewriting its validity date to that article.
Two empty lines were provided, so that the month, the double-digit calendar day, and then the double-digit year, which is listed as the validity date in the original lease, can be marked in “III.”