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Updated almost 8 years ago,
Renewing a New Lease with A Tenant or Create an Addendum?
I purchased a property that was tenant-occupied. The property was previously managed by a management company that I decided not to use because I decided to manage the property myself.
The tenant's lease is expiring in a few months and he wants to renew it. I told him I will keep all the same terms as he had with the property management company.
Should I create a whole new lease or can I create some sort of addendum that says "Following all terms from the [previous lease agreement], I hereby affirm to resign a lease from __________ to _________." Obviously, not that those exact words but basically just using an addendum that's like one page long. OR should I just rewrite a whole new lease with the same terms?
Thanks for the input!