Lease Renewal Notice Template: New Term and Rent Changes

Lease Renewal Notice

This Lease Renewal Notice (“Notice”) is issued on [Date], by and between:

Lessor: [Lessor/Company Name], [Address], [Email], [Phone]

Lessee: [Lessee Name], [Address], [Email], [Phone]

Leased Asset: [Description of Leased Property, Equipment, or Vehicle]

1. Current Lease

The parties are currently bound by a lease agreement dated [Original Lease Date], set to expire on [Current Lease End Date].

2. Renewal Term

Lessor offers to renew the lease for a term of [X months/years], commencing on [New Term Start Date] and ending on [New Term End Date].

3. Payment Terms

During the renewal term, the payment obligations will be:

• Amount: [New Rent/Lease Payment Amount]

• Frequency: [Monthly/Quarterly/Other]

• Due Date: [Day of each period]

Amount: [New Rent/Lease Payment Amount]

Frequency: [Monthly/Quarterly/Other]

Due Date: [Day of each period]

4. Security Deposit

The current deposit of [Deposit Amount] will remain in effect. If an adjustment is required, Lessee agrees to provide the difference of [Adjustment Amount] by [Date].

5. Other Amended Terms (If Any)

The following changes will apply during the renewal term:

• [Amendment 1]

• [Amendment 2]

• [Amendment 3]

[Amendment 1]

[Amendment 2]

[Amendment 3]

6. Acceptance and Deadline

Lessee must sign and return this Notice (or the attached renewal agreement) by [Response Deadline] via [delivery method: email, mail, tenant portal, etc.].

7. Non-Acceptance

If Lessee does not respond by the deadline, the lease will expire on [Current Lease End Date], and Lessee must return or vacate the leased asset in accordance with the original lease terms and applicable law.

8. Holdover Terms

If Lessee continues possession after expiration without a signed renewal, the arrangement will default to holdover status under the lease and applicable law, which may include higher month-to-month rates or additional charges.

9. Governing Law

This Notice and any resulting renewal agreement shall be governed by the laws of the State/Province of [Jurisdiction].

10. Signatures

Lessor/Agent: ________________________

Name/Title: _____________________________

Date: _________________________________

Lessee: _____________________________

Name: _________________________________

Date: _________________________________

☐ Lessee accepts the renewal as stated

☐ Lessee proposes the following changes: ____________________________