Updated almost 7 years ago on . Most recent reply
Lease renewal in Mass
My tenants are willing to renew, I would like to renew too, all conditions are the same. My current lease doesn't have a renewal option, only at will one after expiration. I would like to renew for another term, not at will. I would like to sign the renewal agreement well before the expiration of the current lease. My question is how to manage the security deposit? Can I just keep it in the escrow account and send the tenants the account statement along with a check for the interest? Do I need to mention something about the security deposit in the renewal agreement?