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Updated over 2 years ago, 04/24/2022
Lease renewal -- how do you prevent nearing the end of the lease?
Hello,
I would like to know what others do when it's time for a lease renewal. When you inform your tenants of the new terms (presumably 30-60 days in advance), how much time do you give them to think about it? How do you proceed if they do not agree to the new terms? Do you immediately serve them a "notice to vacate"?
I want to give them a reasonable amount of time to think about it, while not falling in a situation where I near the end of the term because that would mean that a "notice to vacate" would essentially add 30 days to my desired lease-end date, which I avoid because the property is located in a very sought-out school district, so right before the summer is when most of the movement happens.
Thanks.