Kindly consider this as a notice letter for a period of 60 days. The lease extension process starts by serving a Section 42 Notice on your competent landlord, with a financial offer. Application for Informal Lease Extension Quotation Address of property Name of Lessee Telephone (day) (evening) Email address Date of application We (the lessee of the above property) request you. What does the letter of extension for a lease mean? What is the procedure for composing a formal letter to your landlord? Download and use this template to write a letter to the. Effective [DATE] your monthly rent will increase by [AMOUNT]. The ideal approach we would want to make is serving a s42 to the freeholder and getting the full 90yrs extension (and peppercorn ground rent) we are entitled to (i. The agreement is in effect after you and the tenant sign the lease extension. RE: Lease Extension. Date the tenant must vacate property if they do not agree to increase. Once you agree on the rent price, the tenant should complete a rental application. Landlord’s name and contact info. PDF . Close with a polite and professional sign-off. Landlords Must. If you are interested in the steps to lease extension, read our next article: Lease extension process. 9k views [Recipient’s Name] [Recipient’s Address] [City, State ZIP Code] Sweetheart [Recipient’s Name], I am writing to getting an extension on the [Project Name], which be due on [Due Date]. Historically, some leaseholders have. Also, the present date has to be mentioned. Your last day of tenancy will be September 2, 2031. Below is an informal lease extension offer from the freeholder of this flat. To request a lease extension, submit a informal letter containing select the pending item your landlord needs to manufacture adenine deciding. Department of Housing and Urban Development 451 7th Street, S. This fee will be non-refundable, and they know this. Approach the Other Party. A rental and lease agreement is a document that outlines the arrangement between an owner of a property, known as the “landlord” or “lessor,” and someone who pays rent to occupy the property, known as the “tenant” or “lessee. I am very grateful for your kindness, and I will take you up on your offer immediately. Most states. There is a slight difference in meaning. Download. Contact the freeholder to request a lease extension. There’s no “perfect” way to draft a rent increase letter, but it typically contains the following details: Date of the rent increase letter. 42 notice as to avoid any late payment. will reduce your ground rent to £0. Whilst negotiating an informal lease extension, the freeholder may attempt to increase ground rent or introduce additional charges as part of the agreement. Our rent increase notice template can help you put together a notice for your tenants that’s easy to understand. Timing is everything. Note any clauses related to lease extensions or renewals. The landlord can then choose to accept this offer or respond with a Counter-Notice and their own asking price. The simple agreement regarding visitor acceptance has not been followed. Updated October 11, 2023. You can agree a more favourable informal deal with your freeholder. The OP will be doing an informal lease extension with a Housing Association, and the price will probably be whatever the the RICS valuer values the lease extension at. Formal Lease Extension Advantages The informal lease extension process. Formal lease extension For a formal lease extension, on the other hand, you have to sign a change to the lease. 9090 Old Church Way. If the landlord cannot write off a portion of the rent as in the above, then a third option is to ask for a payment holiday in your letter to landlord to extend a lease . Template 1 - Letter to landlord asking for insurance summary. The agreement remains active until either party gives proper notice to end it. Once you finish writing your lease extension form, send a copy to your tenants for signatures. King's speech and lease extensions here. is most commonly done using a short document which extends your existing lease, but leaves it much the same. Request Letter for Extension of Agreement – Sample Letter for Rent Agreement Extension. Template 2 - Letter to landlord asking to inspect insurance policy. Step 1: Gather. Write Notice. Free Spot: Lease Termination Letter 1. OR. Give one of our expert team a call today to explain how you can still begin the process and protect and maximise the property’s value. if the property is worth £250,000, the bill for extending the lease will go up about £2,500 a year. Rent can't be increased during a fixed term agreement unless a. 43 Best Lease Extension Addendum (+ Renewal Agreements) If you are looking to write a lease extension agreement, you might have looked at other lease extension addendums or lease extension forms. A North Carolina month-to-month lease agreement is a contract (written or oral) that allows a tenant to rent property from a landlord, in exchange for a fee (“rent”), for a period of thirty days at a time. I would like to amend that date to end on [new date]. City, State, Zip Code. Your posts are primarily about an informal lease extension - there are no 'rules', no timescales etc with that i. These are just estimates and can vary wildly – they are not a substitute for valuation advice. Lease Extension Solicitors. Whilst informal lease extensions may not be right for every situation, they remain a viable option for tenants looking for some flexibility when extending their lease. The ground rent will be £250 a year, doubling every 10 years. Your custom letter template will instantly convert every form response into an easily. The letter should include: Your company, current address additionally contact informationAdvantages of the statutory procedure. Sub: Employment Contract Extension. Our rent increase notice template can help you put together a notice for your tenants that’s easy to understand. If the deceased was a qualifying tenant under the law, you would have the right to extend the lease within two years of the grant of probate or letters of administration. Download a template informal letter enquiring about lease extension of a flat, or to purchase the freehold of a house or flat. Hannah Faith, Leasehold Immobilien Paralegal at Frettens, watch at the Informal Lease Extension anreise. 6 KB PDF) are for a specific term, for example 12 months, and include the date the tenancy ends. . This will include the length of the extended term, the premium payable for the lease extension, and any future ground rent payable. Estimated for a flat worth £200,000 once the lease is extended, with £100 ground rent rising by £100 for each 33. VAT - Valuation fee: £300 – £375 + VAT - Peabody solicitors costs (standard lease extension): £450 - £550 + VATWhat is an Informal Extension? As the name suggests, an Informal Extension (also known as Extended Hire or a rolling contract) is an informal agreement in which the customer continues to use the leased vehicle beyond the contract end date until collection is requested. • It is almost always necessary to instruct a solicitor to draft and serve the section 42 notice and negotiate the premium. Remove name from lease letter sample - 6-12-08 Letter to Rabbi Cunin Denying Lease Extension - smmc ca Arnold schwarzenegger, governor state of california resources agency santa monica mountains conservancy ramirez canyon park 5750 ramirez canyon road malibu, california 90265 phone (310) 5893200 fax (310) 5893207 v i a e l e c t r o n i c m. To request a lease extension, submit a formal letter features all that applicable details get landlord requirements to make a decision. 39. Dear [Landlord’s Name], I am writing to formally request the renewal of the commercial lease agreement for the premises located at [Property Address], which is set to expire on [Lease Expiration Date]. Name and information of the tenant and landlord. Step 2: Decide on. The cost of serving a Section 42 Notice is around £220, which constitutes a small cost saving if you conclude an informal. Annabel Lee. The terms will include ground rent of £100 per annum (to double every 25 years). Aug 31, 2021. Informal Letters. How to Renew a Lease (4 steps) 1. Extension Forms (Lease Renewal Forms). These are the two options available if you would like to extend the lease on your leasehold property: - Voluntary lease extension scheme1. Include your full choose and any relevant employment title or affiliation. The deceased would be a qualifying tenant, if their lease was more than 21 years when originally granted and they had been the registered owner of the flat for 2 years before. Re: Lease Expiration and Renewal for _____ Dear: It is a pleasure having you as a tenant and we hope you are enjoying your home. Dear [Name],). If you have an absent freeholder, see our guide on what your options are. Government entities, social services firms, and non-profit groups have accessible lease letter templates which you can utilize to negotiate your contract. Our offices are located in Brentford, Ealing, London Belgravia and Canterbury, all within easy reach by public transport. The letter supposed include: Your name, current address and contact. The non-statutory route, or an informal lease extension, is available to leaseholders regardless of how long they have owned their property. I would. Send the Extension Addendum. 1. Date by which you need a decision, usually 10 days to two weeks. Once your surveyor has carried out a valuation, you should ask him to send a copy to your solicitors. The remaining terms and conditions of the lease. A lease extension addendum can be used to make minor changes to the conditions of an original lease such as the length of the new term, a change in rent, and/or other modifications. Contract Extension Letter: 4 Templates. In very simple terms, the Statutory lease extension process typically works like this: 1) You make an offer for the lease extension, let's say £5k 2) Your freeholder makes a counter offer, let's say £12k 3) You (or more likely your valuers) negotiate 4) If you can't agree, you go to a tribunal and each side puts their case. Statutory Route Lease Extensions The statutory lease extension process. Leaseholders have a legal right for a lease extension of an additional 90. Date the letter was written. A lease is an legal document, so a lease extension letter please should be treated with of same level of importance. A rental and lease agreement is a document that outlines the arrangement between an owner of a property, known as the “landlord” or “lessor,” and someone who pays rent to occupy the property, known as the “tenant” or “lessee. In many cases, you can activate an informal extension simply by placing a call to the car company that provides. You may utilize these forms when you have a tenant who wants to extend the term of his rental or lease agreement. Reasons for extension. This includes prospective. Free. Due to unforeseen circumstances, I have been some obstacles that have delayed my progress on the project. Provide a Reason. If you wish to proceed with your lease extension you must send written confirmation of your acceptance of the premium and the lease extension, and C) Asking for a Rental Payment Holiday. Memorandum Templates & Examples. Send your written request and support letter. If you own a house and want to extend your lease, you will need to use the formal negotiation route. g. A lease is a legal document, so an lease extension letter send should may processed with the same floor of importance. Thank you for your recent communication requesting an extension of time to make your payment which is due on (dd/mm/yyyy). 2. The zuschrift should include: Know your Options and ResponsibilitiesThis means a landlord can update the lease provisions from one fixed term to the next, and make the lease renewal dependent on the tenant agreeing to any new terms, including rent. serving their airports. follows a formal timetable where you. The first thing to do when writing a notice to your landlord is to read and understand the lease agreement that you signed when moving in. 40. “Sample Lease Expiration and Renewal Letter” November 5, 1999. If you are purchasing, and the lease needs extending, it is possible for the seller (if they have owned the lease for at least 2 years) to start the lease extension process and give the buyer the right to extend (assign the benefit of the notice). as textiles. Currently, the rent amount for this unit is $1025. A rental agreement must include specific details such as the periodic rent and the responsibilities of each party. Informal lease extensions may offer a commercially sensible solution to a particular leaseholder. DATE. This agreement is valid for a period of [Number] [Years/Months] starting from [Date] and ending. Informal Route Lease Extensions; 4. When a tenant’s lease is coming to an end a lease extension letter can be sent by either the tenant or the landlord to request that steps be taken to renew the lease. The terms will include ground rent of £100 per annum (to double every 25 years). This must be paid within 14 days. The main advantages of the informal lease extension are: Speed: the formal route requires a notice to be served on the freeholder and they are given up to 2 months to respond. Usually Section 42 notices are not required, although sometimes a landlord will request one to initiate the agreement. The letter should include: Writing and date off a formal letter to send by get. • advantage Tenant – can take time to find funds. Lease extension cost ranges from £3,600 to £6,598 for valuation and legal work, Your premium will be based on your valuation, You may also be liable to pay Stamp Duty, You'll have to pay a solicitor or licensed conveyancer to handle the transaction whether you take the informal or formal route. Next, input your whole name using the left justification. While a 30-day notice to vacate is standard, your landlord may require a 60-day notice or 90-day. Renewal of Insurance Policy: To negotiate new terms and an extension for insurance. The letter should include: Form: Option to Renew Real-time Demesne Lease Project: Sample. The lease also forms a contract between the individual flat-owner and the landlord and sets out the relative obligations of each party. A your may want the member up renew an lease because he or she has always paid the rent on time, keep the objekt in good conditioning and has good tenants includes. The Term of Lease will start from [Date] and end on [Date]. co. To [Recipient name] Dear, [Recipient name] This agreement is intended to clarify the rental terms of the unit [Unit name and number] given to the tenant [Tenant name]. A statutory lease extension. Free. [Name, Company Name & Address here] [Date] Dear [name], First of all, I would like to thank you for your services to our company. 12 July 2020 at 9:06PM. Contact the freeholder to request a lease extension. Step 1 – Inform the Freeholder of your wish to pursue an extension through the statutory route. Step 1: Review the Original Lease Check the original lease terms and conditions. S. In consideration for this extension to the term of the lease, the. Template 3 - Leaseholder's notice to insurer of possible claim. A statutory lease extension allows a leaseholder to add 90 years onto the term remaining on their lease. To request a tenancy extension, submit a informal letter containing all which relevant details your landlord. Most specialist RICS surveyors offer a best and worst case scenario for what you should offer the freeholder to extend the lease using the statutory formula within the Leasehold Reform Act. Date the increased rent is due. My leave expires on March 12. ( i) The lease shall have a twelve month term. Cloned 18,760. Date the Increase takes effect. The legislation was introduced to balance the bargaining. With informal lease extensions, the leaseholder normally approaches the landlord on an informal basis and agrees a premium without serving a statutory notice. This is the advised and most common route (as it's safer than an informal extension). Follow these steps to craft a convincing and considerate message: Address the Relevant Party: Begin your letter by addressing the appropriate individual or department. Attach any documents or evidence you may need to support your request. For request a lease line, submit a formal letter containing all the pertinent details get landlord needs to induce a decision. If the landlord decides on the latter, a letter should be sent to the tenant stating the following:Step 1: Write the contact information and date. Call 020 8840 6640 or email solicitor@starckuberoi. A standard residential lease agreement (or “rental agreement”) is a contract for a tenant to use a landlord’s residential property in exchange for paying rent. The notice period for terminating a lease will vary depending on the terms of the lease agreement. Whilst an informal lease extension is a solution to any leaseholder not meeting the qualification period and sometimes even those that do, expert advice should be sought from a surveyor with regards to acceptable premiums (a premium being the price payable for the additional years granted) and ground rents, and from a solicitor in relation. It is good practice to have this money readily available or even send it to your solicitor upon service of the s. In order to avoid any likely confusion, mention the duration of such leave with start and end dates. com. docx) Request for Immunization Exemption. Ground rent is mentioned only as ‘’New Rent’’. A Lease Renewal or Extension Form has to be drafted before the lease expires. A sample letter requesting reasonable accommodations / modifications and a sample support letter are at the end of this fact. If you wish to proceed with your lease extension you must send written confirmation of your acceptance of the premium and the lease extension, andC) Asking for a Rental Payment Holiday. I propose to pay you the prorated amount of [extension rent amount] for theInclude your signature and complete name. As many of you know, the process of acquiring a student visa (F-1 visa) to the United States is nerve-racking for Indian families. If you own an iOS device like an iPhone or iPad, easily create electronic signatures for signing a section 8 extension request letter in PDF format. You might be able to extend your lease by: 90 years on a flat if you qualify. City, State, Zip Code. The late Louie Burns has written on the LKP website about the cheating played by freeholders with informal lease extensions. A lease is a legal document, how a lease extension letter request should be treated with the same level of importance. Click the AI Assistant on your Dashboard and choose the 'Long-Form Writer'. The letter supposed include: Your name, current address and contact informationFixed term lease agreements (250. Random Letter Requesting Extension of Time (Visa or Permit) [Your Name] [Your Address] [City, State ZIP Code] [Email Address] [Today’s Date] [Recipient’s Name] [Recipient’s Address] [City, State ZIP Code] Dear [Recipient’s Name], I am writing to request an extension on my [Visa/Permit Type] any is set to decay on [Current Expiration Date]. 4. Amount of the rent increase. ”. Formal lease extensions. The informal route is where the leasehold er simply contacts their landlord (usually the freeholder) to try and negotiate a lease extension. What is leasehold? Leasehold ownership of a flat is simply a long tenancy, the right to occupation and use of the flat for a long period – the ‘term’ of the lease. An informal lease extension can be considerably quicker than the statutory route. The behind-the-scenes concern of senior politicians over managing agent Joseph Gurvits broke into the open yesterday when he was named in the House of Commons. Once you have completed the self-assessment using the Wear and Use guidelines, you can schedule a complimentary pre-inspection within 60-days of your lease-end date. Return completed Lease Extension Acceptance Form to L&Q with details of your solicitor. A landlord can propose a rent increase when a new lease agreement is due to be signed or after the original lease has ended and the tenant agrees to an extension under new terms. I presently have (insert number of years) left on my lease. Include the address and date. It helps the landlord to set new terms, such as a change in the rental price, while also letting the tenant know if they can stay in the property for another year if they choose. See moreTemplate letter. The lease on my premise expires on the 31st of March 2012, and I would like to renew it until 31st March, 2015. A tenant notice to vacate letter is a legal document a tenant sends to a landlord to inform of a plan to move out of an apartment, condo, house, or another rental residence. The informal lease extension may be a preferred option to those leaseholders who are short of liquid cash to pay for a premium set under a statutory lease extension It may be advantageous to continue paying the annual ground rent set out by an existing lease if it means paying substantially lower premium for a grant of a new lease. Informal lease extensions don’t need to follow the same process. Step 4. Subject: Lease Extension Letter. Once signed, the agreement is. With an informal lease extension, once the price has been agreed, your freeholder’s solicitor is likely to charge you upfront for their legal fees. co. In this particular lease renewal letter, the landlord has laid out different options that the tenant can use if he wishes to keep on leasing there. ONE well-written rent increase notice can promote you retain residents. Using the sample lease extension letter the landlords while a template fork your informal announcement. How to make an signature for the Voucher Extension Letter Form on iOS devices. Informal lease extensions, on the other. If your lease has 83 years left, it's time to really start looking seriously into this. To request a lease extension, submit ampere classroom letter includes all the pertinent details your landlord my to make a decision. Provide a valid reason for the request, such as unexpected. Employee Acknowledgement Letters. In our current economy and in particular with lease terms approaching 80 years, it is imperative that a Notice is served to secure a flat owner’s position. 4. Using Jotform’s PDF Editor, you can modify any letter template to perfectly match your needs. They offer an informal lease extension and you pay them £10,200. Tips for informal lease extensions. You can position the date at the top left of the letter or after the recipient's address. But to do so – in practice – you need to have staircased your flat to 100%. We’ll help you identify the best route for you and your circumstances before you invest time and funds into this procedure. You will want to be sure that you have the right kind of lease renewal agreement document to keep your renters in your leased property for the long term if they wish. To request a lease extension, submit one informal letter containing all the suitable details the landlord needs toward make a decision. By law, you are entitled to extend your lease for a further 90 years. Leaseholders have a legal right for a lease extension of an additional 90. Since there may be a deadline for the lease extension, a return request will prove that the letter was sent and received on time. Subject: Extension of maternity leave. Extension of lease agreement form is made between the landlord and the tenant. Cloned 61,887. Informal route. A lease is a legal document, so adenine lease extension letter request should be treated with the same level the importance. 36 Best Lease Renewal Letters & Forms (Word & PDF) A lease renewal agreement is a necessary document if you are managing a property that you rent out. Cons. The end date can be changed if the landlord and tenant agree. A month-to-month rental agreement is a lease that does not have a traditional end date. For example, if you have 70 years now, you’ll have 160 years. However, ongoing ‘informal’ lease extensions, where the ground rent is to be increased above the existing ground rent, would need to be completed before 30 th June 2022. A lease is a statutory document, so ampere hire extension letter request ought be worked with the same step of importance. How Starck Uberoi can help. Request a deposit of £250 or 10% of the offered premium, whichever is the greater. • You will be required to pay your freeholder’s reasonable legal and surveyor costs, as well as the legal and valuation costs of your own surveyor. Once a tenant’s lease lives coming toward an end a lease extension letter can be sent by whether this tenant button an landlord to request that steps become caught to renew the lease. Below, you can find what a residential lease extension form typically looks like:Request Letter for Renewal of Lease Agreement - Sample… Request Letter for Extension of Employment Contract by… Request Letter for Renewal of Maintenance Contract - Sample… Request Letter for Property Valuation - Sample Letter… Request Letter to Landlord for Reduction in Rent - Sample… Request Letter for Issuance of. This is often referred to as a formal or statutory lease extension and is provided by the Leasehold Reform Housing and Urban Development Act 1993. As many of you know, the process of acquiring a student visa (F-1 visa) to the United States is nerve-racking for Indian families. Statutory lease extension. The. If your freeholder approaches you and offers a lease extension, this will always be an informal agreement. Dear [Recipient Name], The purpose of this letter is the Extension of the Lease agreement between [Tenant] and [Landlord] for the [Property Name] located at [Address]. In many cases, you can activate an informal extension simply by placing a call to the car company that provides your lease. The first is to serve a notice claiming your legal right, known as a statutory or formal lease extension. A late rent notice (or a notice to pay rent) is a written letter from the landlord informing the tenant that rent is past due and requesting the tenant pay the overdue rent immediately. Sign the Addendum. Fill in the blank with your full name. Under this route, a leaseholder can approach the freeholder in the first instance and ask whether they are interested in selling them the freehold. A lease extension for a flat can dramatically increase its value, even for flats with long leases. If it is your age mate, you can use the words dear Susan, cate, Charles, Andrew, etc. At conversion, your public housing lease will be terminated and you will be asked to sign a new Section 8 lease. No such eligibility criteria apply for informal lease extensions. Key Takeaways. Writing a lease extension letter is an important step in extending the tenancy of a tenant in your property. Instead, where a deed attempts either to: vary the length of a registered lease by. Step 2 – Appoint a lease extension solicitor with expertise in the field and who is a member of the. Be sure to keep copies for your records. The notice sets out a strict timeframe which. Generally, it is not necessary to send a demand letter before beginning judicial proceedings to recover possession of the property. Download a template informal letter enquiring about lease extension of a flat, or. Here is a sample temperature can use to write an informal rental agreement letter. You will need a surveyor to value the cost of the lease extension for you and you will also need to appoint a solicitor to act for you. The letter should include: Your name, current address and contact informationI suspect that's a statutory lease extension - and it's taken 7+ months because the leaseholder and freeholder are negotiating because they can't agree on a price. Formal Lease Extension – The Disadvantages. Late Rent Notice Template. This letter also contains the period of effectivity of the contract of agency between the principal and the agent. City, State, Zip Code. This is the advised and most common route (as it's safer than an informal extension). Place of employment. The letter should include: Your name, actual meet and ask information Writing a letter requesting an extension of time involves clear communication, a valid justification, and a demonstration of professionalism. 5% and 10% respectively. Urinalysis Authorization. To complete an informal lease extension the approximate timescale is four months from your initial request. Grove City, Ohio 43123. I am writing this letter in order to request you to not renew the lease contract bearing contract number _____ (contract number) for the above-mentioned address further. Under this route, leaseholders can approach the freeholder in the first instance and ask whether they are interested in selling them the freehold. Lease renewal agreements help. You will often see lease extension agreements extend to a month-to-month basis. Dear [Mention the full name of the recipient], I, [mention your name ], am writing this letter on behalf of my company/ organization [mention the name of the company/organization]. The formal route. Lease Extension Request for [Rental Address] Dear [Landlord's Name], Please accept this letter as a formal request for an extension to the lease for [Property Address]. The lease explains the rules for living in your unit. The advantages of choosing an informal route include: To qualify for a statutory lease extension, you must have owned the property for at least 2 years. Excellent 4. Express gratitude for the. [4] Georgia 60 Day Notice to Vacate. Writing a solid, thorough lease termination letter is one step towards parting ways. For an appointment at any of our offices, email us at solicitor@starckuberoi. Get a RICS Lease Extension Valuation. June 9, 2023 June 1, 2022. Property address. It could be that you are having problems trying to sell your flat due to the length of term remaining or maybe have a clause which permits a significant ris in the ground rent. Our offices are located in Brentford, Ealing, London Belgravia and Canterbury, all within easy reach by public transport. While lease renewals and lease extensions are similar in many ways, landlords often use the lease extension when they want to keep a tenant in a property for just a few months after the original lease expires. You can keep your vehicle for a total of five years, including your original contract and formal extension. So, if your current contract is for three years, the maximum length of your formal extension will be two years (24 months). Rental and Lease Agreement Templates. To request an leasing extension, submit adenine informal letter containing all the pertinent details own renter needs on make a. It would be good if you can visit the property for an inspection so that the deposited security amount will be refunded at the earliest. Get in touch today on 0161 696 6187. The letter should give the full name of the applicant and his or her contact details. To request adenine lease extension, submit a formal letter containing all aforementioned pertinent details your rental requests to make a decision. co. you’re on fixed-term tenancy of 6. However, if the judicial. TEMPLATE DOCUMENT. Furthermore, you would only be getting a 29 year extension when you could be entitled to a 160 year lease & not pay any ground rent. Under Section 39 of The Leasehold Reform, Housing And Urban Development Act 1993 qualifying leaseholders have a statutory right to extend the remaining term on their leases. All articles . The terms and conditions of the contract are the same as the original contract. The formal route involves using your statutory right to a lease extension under the Leasehold Reform Housing and Urban Development Act 1993. PDF. Add the co-tenants’ names. In this instance there would be no rental payment for a period of time and the lease will be extended accordingly. This is the statutory lease extension allowance, but there may be occasions where the term can be less, and this will be dependent on whether we own the freehold of your home. However, for leases above 130 years, any extra years will not add. With an informal extension, the leasing company extends the lease for a relatively short term — typically six months or less — without a new lease agreement and with the same payment schedule as in your original contract. The current value is £150,000, and the improved value following the lease extension is £165,000. How to Write a Lease Extension Letter. • disadvantage Landlord – has to wait for money and has to put up with valuation date from. Renewal letter is an official letter is the action of making an agreement continue for an extended period of time or validity after it has come to an end or the act of renewing is also called continuation or repetition of a license, contract, subscription or a membership etc The Renewal letter is. A lease non-renewal letter is sent prior to when the lease ends. Remember to be respectful, concise, and appreciative in. Rated 4. The extension period starts immediately after the elapse of the previous contract.