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Updated about 3 years ago,

User Stats

12
Posts
5
Votes
Mike Sullivan
  • Real Estate Investor
  • Melbourne, FL
5
Votes |
12
Posts

Lease Renewal timing

Mike Sullivan
  • Real Estate Investor
  • Melbourne, FL
Posted

In my Melbourne, Florida lease, I have the following in the Renewal/Extension section:

The Lease can be renewed or extended only by a written agreement signed by both
Landlord and Tenant, but in no event may the total Lease Term exceed one year. A new
lease or addendum is required for each year. A minimum 30 (thirty) day notice (Section
VII) is required by Landlord or Tenant for before end of lease period, to terminate or
extend this lease.

I had not paid attention to it before because the renewals all went smoothly in the past with people I had known. Now I have a great new tenant (I did not know them before) that is coming up on a their 1 year term (Oct 1, 2021) and need to renew. 


My question: The wording in the lease is not exact because it just says notice has to be given 30 days ahead of time (assumes too that an offer or denial will be made) but no mention on when the new lease or addendum has to be signed. The tenant has said they will renew but was wondering why they have to "do it so far ahead of time". What wording do others have in their lease to make the timeline clear for renewal signature/notice or termination notice?


I'm thinking of including something like the following in the new lease Renewal section:

  • Notice of non-renewal or renewal with new monthly rate will be offered 60 days ahead term date
  • Renewal signature 30 days prior to lease termination or showing of the unit will occur during the 30 day countdown, and offered monthly rate may change if renewal offered and signed during that period.

This seems ok, but it still allows them to wait until the last day of the current lease to sign, and doesn't mention a termination notice (section VII has the how, not the when). Looking for a solid renewal sequence of events/milestones that has worked for others.

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