Lease Renewal Notice Template
1. Parties and Lease Reference
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]
Original Lease Date: [Original Lease Date]
Current Lease End Date: [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]
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]
6. Acceptance and Deadline
Lessee must sign and return this Notice (or the attached renewal agreement) by [Response Deadline] via [Delivery Method].
7. Non-Acceptance and Holdover
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.
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.
8. Compliance and Conditions Checklist
Condition Item | Required (Yes/No) | Due Date | Provided (Yes/No) | Reference ID/Notes |
[Insurance proof (if applicable)] | [Yes/No] | [MM/DD/YYYY] | [Yes/No] | [Ref/Notes] |
[Outstanding balance resolved] | [Yes/No] | [MM/DD/YYYY] | [Yes/No] | [Ref/Notes] |
[Inspection scheduled] | [Yes/No] | [MM/DD/YYYY] | [Yes/No] | [Ref/Notes] |
Condition Item | Required (Yes/No) | Due Date | Provided (Yes/No) | Reference ID/Notes |
[Insurance proof (if applicable)] | [Yes/No] | [MM/DD/YYYY] | [Yes/No] | [Ref/Notes] |
[Outstanding balance resolved] | [Yes/No] | [MM/DD/YYYY] | [Yes/No] | [Ref/Notes] |
[Inspection scheduled] | [Yes/No] | [MM/DD/YYYY] | [Yes/No] | [Ref/Notes] |
Condition Item
Required (Yes/No)
Due Date
Provided (Yes/No)
Reference ID/Notes
[Insurance proof (if applicable)]
[Yes/No]
[MM/DD/YYYY]
[Ref/Notes]
[Outstanding balance resolved]
[Inspection scheduled]
9. Governing Law
This Notice and any resulting renewal agreement shall be governed by the laws of the State of Illinois.
10. Signatures
Lessor/Agent: ________________________
Name/Title: _____________________________
Date: _________________________________
Lessee: _____________________________
Name: _________________________________
☐ Lessee accepts the renewal as stated
☐ Lessee proposes the following changes: ____________________________
Condition Item | Required (Yes/No) | Due Date | Provided (Yes/No) | Reference ID/Notes |
[Insurance proof (if applicable)] | [Yes/No] | [MM/DD/YYYY] | [Yes/No] | [Ref/Notes] |
[Outstanding balance resolved] | [Yes/No] | [MM/DD/YYYY] | [Yes/No] | [Ref/Notes] |
[Inspection scheduled] | [Yes/No] | [MM/DD/YYYY] | [Yes/No] | [Ref/Notes] |