What should be signed to renew lease with the same tenants?

[Linda Roberts]

Hi I simply want to sign a new lease with the same tenants for next year.

The main difference is a new price that they verbally agreed on. Should I sign the same lease as a 1st one, just with a new rent amount?

There is a paragraph about the security deposit in old lease, but they already paid deposit a year ago. What should be done? Remove this paragraph completely, or wright that deposit was already paid? Are there any standard forms for lease renewal? 

[Justin Hoggatt]

Hi, Linda, great question.  I think this is up to you in a sense.  I used to provide an addendum to the lease that stated the new lease details -which wasn't much change and basically stated that the new monthly rate is $x and no other lease details change.  You can find an addendum sample by googling it.  

Now, however, I resend the lease with all my addendum attached.  My leases change on to much regularity to figure out what I want them to agree on, so I simply resend the whole lease and all addendums and ask that they sign the updated and newer lease.  It keeps things cleaner for me that way knowing that they are up-to-date to the point of the new lease.  For the deposit on a new lease, I simply put already paid $x.