Lease Option renewal

[Jordin Boyd]

So I have a tenant buyer in a house right now. They are 1 year into their 2 year lease agreement and their option to purchase agreement states they can purchase any time during those 2 years. They just informed me that they are not going to be able to buy in the 2 year time period and want to know if we can renew their contract for at least one more year. I'm fine with letting them do this because its cash flowing well for me and I don't have to handle any maintenance on the property so the longer they stay the better as far as I'm concerned. My question is, to renew their lease agreement and option to purchase agreement, do I require another non refundable deposit or does that just roll over? It seems like charging them another deposit in order to stay would be a little crooked but if it went directly toward the purchase price then maybe its not so crooked. I don't know how this is typically done.

Also, if the tenant wants to pay extra money once in a while and have it go towards the purchase price (and I'm ok with that) should I provide a different receipt for that payment? How do I document that they paid extra and reduced the agreed upon purchase price?

Any thoughts or related experiences? Thanks in advance!