The lease for your rental property is coming to an end soon, and you would like to renew the agreement with a few modifications to the original lease. When you have made the decision to modify the terms of your lease, it’s important to ensure that your tenants understand both the changes that are being made and their options of acceptance or rejection. With the ezLandlordForms New Lease Introduction letter you are able to provide the tenant information about the changes and if they are acceptable. This document notifies the current tenants, in a welcoming manner, that the terms and conditions of the current lease will be changed. This form is editable so you may add additional language as you see fit. You can list the changes and even include a brief reason for the changes.
This New Lease Introduction allows the tenant to accept the new terms by initialing each page of the lease. It also allows the tenant to deny the new terms by checking the box that states, “I do not accept the new lease, and will be vacating the premises at the end of the lease." This introductory letter also instructs the tenant to reject the request by giving proper notice. The New Lease introduction letter summarizes what changes are being made in the new lease agreement and what procedures must be taken to approve the updated terms, or how to reject them. This letter should be sent along with the copy of the new lease you forward to your tenants for review. The New Lease Introduction form serves as a cover letter for the modified lease agreement. Ideally this letter should be given to your tenants 45 or more days before the effective date of the new lease agreement.
IMPORTANT: Make sure you check your local regulations for the required time frame for lease change notification.