procedure for lease renewal

[Mark Coulet]

tenants wish to renew for another year, do i send an entire new lease?

[Steve Babiak]

I would say Rob K's approach might suffice. But the existing terms might say that the lease goes month to month after the first year, so saying conditions remain the same might be confusing. I like to get a new lease written up, with modified dates, new rent amounts and increase to security deposit (in my state it is allowed to keep up with rent for a certain number of years).

Some related threads:

http://www.biggerpockets.com/forums/52/topics/53149-do-you-notify-your-tenants-when-their-rental-contract-is-expiring-

http://www.biggerpockets.com/forums/52/topics/77245-best-method-of-renewing-leases

http://www.biggerpockets.com/forums/52/topics/67263-tenant-wont-sign-new-lease-but-is-still-sending-payment-what-to-do

http://www.biggerpockets.com/forums/52/topics/76856-12-month-lease-to-month-to-month

http://www.biggerpockets.com/forums/52/topics/77470-what-kind-of-incentives-do-you-have-to-retain-tenants

http://www.biggerpockets.com/forums/52/topics/72506-lease-renewaladvice-needed

http://www.biggerpockets.com/forums/311/topics/69935-most-ethical-way-to-not-renew-a-month-to-month-lease-when-the-tenants-have-perfect-track-records

http://www.biggerpockets.com/forums/52/topics/75734-do-i-need-to-send-notice-at-end-of-lease-for-vacating

http://www.biggerpockets.com/forums/81/topics/52826-lease-ending