Lease Renewal

Happy Anniversary!
It’s that time of the year – lease renewal time!!! We all hope you choose our community for at least another year.

How it Works:

NOTICE TO END LEASE AGREEMENT
Either Party may end this Lease at the end of the original term or any renewal term by written notice. Landlord or Resident must give this written notice at least sixty (60) days before the date of the end of the lease. This Lease will automatically renew for a twelve (12) month term if neither party ends the Lease at the end of the original term or the end of any renewal term (and if Landlord does not send a renewal notice). This Lease will renew on the terms in Landlord’s renewal notice if Resident does not send notice ending Lease.

CHANGE IN RENT OR OTHER TERMS OF THE LEASE AGREEMENT
At least sixty (60) days before the Lease Agreement is over the Property Owner may notify the Resident in writing of any changes in rent or changes of any other terms of the new Lease Agreement. The Resident must then notify the Property Owner in writing within thirty (30) days if the Resident rejects these changes and therefore desires to terminate the Lease. If the Resident does not respond to Property Owner’s changes, the changes will become part of this Lease amending it to the extent the terms are inconsistent with the present Lease.If this Lease is ended and Resident does not vacate on the ending date, Resident must pay double the last monthly rental charge. This double rental charge is due for each month or part of a month that Resident remains in possession of the leased unit after the end date of the Lease or renewal.

OPTION FOR RENEWAL ON A MONTH-TO-MONTH BASIS
Leases normally renew every twelve (12) months. Following the expiration of the original term of this Lease Residents may choose a month-to-month Lease. For the month-to-month option there is an additional monthly charge specified in the actual lease renewal. Resident is to notify Property Owner, in writing, that Resident will choose the month-to month renewal. To end a month-to-month Lease, either Resident or Property Owner must give the other party at least thirty (30) days notice, in writing, to vacate before the end of the Lease Agreement.

CHARGES FOR BREAKING THIS LEASE
A Resident who chooses to renew the Lease for another full term is permitted to break the Lease only if all the following conditions have been met:

A. Resident has been in apartment for over one year.

B. Notice to vacate must be, in writing, at least sixty (60) days before the date Resident wishes to vacate.

C. An additional charge of one month’s rent will be charged as a reimbursement for the costs incurred in administration, apartment preparation and/or releasing costs.

Remember, if you recommend your building to a friend and your friend leases a unit you will receive $100.00 off the first month of your new lease. Ask us for more information.

We look forward to the opportunity to serve you for another year. If you have any questions concerning renewing your lease, feel free to give us a call at 215-886-8030, or email us at lindy@lindyproperty.com.

Again… Happy Anniversary!