Renewal of Lease Agreement
a. This form was updated to add a second page that can be used in the event that the tenant wishes to terminate the lease, rather than agree to the new terms. Feedback from property managers indicated that they would prefer to know whether a tenant planned to remain or not and that the addition of this second page would help provide certainty. The new page includes blanks for the tenant to provide their mailing address for the return of any security deposit as well as to indicate whether they wish to be present at the move-out inspection.
b. Both pages contain statements that one page or the other should be returned, but that if the tenant fails to return either by the Renewal Date, they have accepted the new terms and the lease has been renewed.