Short Term Tenancy Agreement Extension: A Guide
Finding the perfect place to call home can be challenging, and when it comes to renting, most tenants prefer a short-term lease. A short-term tenancy agreement allows the tenant to rent the property for a specific period, usually six months to a year. However, what happens when the lease term is coming to an end, and you`re not ready to leave? The best thing to do is to extend your short-term tenancy agreement.
Extending your short-term tenancy agreement is an excellent way to continue enjoying the benefits of renting without having to worry about relocating. Here`s a guide to help you navigate the process:
Confirm Your Interest in Extending the Lease
The first step in extending your short-term tenancy agreement is to confirm your interest in staying. You should let your landlord know that you`re interested in extending the lease, and find out if they`re willing to extend it. If they`re willing to extend the lease, you can go ahead and discuss the terms of the extension.
Negotiate the Terms of the Extension
When negotiating the terms of the extension, you should consider factors such as the duration of the extension, the rent amount, and the terms of the lease. You may want to negotiate a shorter or longer extension term depending on your preferences. If you`ve been a good tenant, you can also negotiate a lower rent amount.
Sign the Extension Agreement
Once you and your landlord agree on the terms of the extension, you should sign the extension agreement. The agreement outlines the terms of the extension, including the duration of the lease, the rent amount, and any other relevant details.
Be Sure to Follow the Agreement Terms
After signing the extension agreement, it`s important to ensure that you follow the terms of the agreement. This includes paying the agreed-upon rent on time, adhering to any rules and regulations, and taking care of the property as agreed.
Extending your short-term tenancy agreement is an excellent way to continue enjoying the benefits of renting while avoiding relocation. It`s crucial to let your landlord know of your interest in extending the lease, negotiate the terms of the extension, sign the extension agreement, and follow the agreement`s terms. By following these steps, you`ll have a seamless process of extending your short-term tenancy agreement.