What is the procedure for renewal of rent agreement

Hi, I have just given my flat for rent and now its one year over and so i have to renew the rent agreement.So what is the procedure to renew the Rent agreement for next 1 year.

Answers (1)

96 votes

Know your current lease. Review your current lease approximately 90 days before expiration. If you did not obtain a copy when you signed it, contact your landlord or property manager and ask for one.

Consider the price you pay each month and any included amenities---are you still happy there? Do you want to continue living there? If so, list anything you might want to change in a renewal lease. A change could be no change at all, as in keeping your current rental rate as opposed to the typical raise in rent. Or a change could be upgrading your apartment in some way---new flooring, new appliances or new paint, for example. You may even be able to upgrade to a larger apartment in the same complex for the same or similar rent.

Contact your landlord or property manager at least 45 days prior to your lease's expiration in writing or call for an appointment to discuss the renewal of your lease. Bring the list of changes with you to the meeting and include supplemental information if you are trying to negotiate.

Be prepared for an increase in rent. This is typical business. Know what you can afford and are willing to pay for your particular rental. Despite your negotiation attempt, you may decide the best thing is for you to stay at your location and pay a little more. Even if you are willing to accept a rent increase, don't show your cards with the landlord or property manager too quickly. Just know what your bottom line is.

Make your final agreement with your landlord or property manager and get it in writing. Sign the documentation, ask for a copy of it and retain a copy for your records.

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