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How to Replace Cross to the Lease Renewal

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hello Im Greg Paley was simply property management today Id like to speak to you a little bit about our lease renewal process our lease renewal process generally starts about 90 days prior to the expiration of the tenant lease and so if if you are not wanting to rewrite your property or you would like to sell your property at this time we would need to get a notice from you at least 90 days in advance so that we do not start this process that we can notify the tenants that you will not be renewing their lease again so basically how it starts is the 90 day period starts where we initiate an inspection of the property and the inspection goes into our software and you do have access to it so that you can view the condition of the property at the time once we evaluate the condition and determine that this is a resident that we like to keep we do a CMA which is a comparative market analysis of the area and try to come up with a an appropriate rent amount to a lot before we offer them anot

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How much notice does a landlord have to give a tenant to move out in Georgia?

If there is a tenancy-at-will, the landlord must give the tenant sixty (60) days notice telling them to leave. If the landlord is willing to allow the tenant to remain but wishes to begin charging rent, the tenant must be given sixty (60) days notice to start a new tenancy-at-will requiring rent payments.

What does option to extend mean?

An option to renew or extend the lease means that upon the tenants exercise of the option (choice), the provisions of the agreed-upon option are adopted for another defined term. The terms of the option can include the length of the new term, a change in rent, and other modifications.

What is an example of an option to renew clause?

Option to Renew. Provided Tenant is not then in default of any of the terms and conditions of this Lease, the Tenant shall have one (1)option to extend the Term for an additional five (5)years for such Rent, as defined below, as the parties shall at that time negotiate.

What is an option to renew a contract?

A renewal option is a clause in a financial agreement that outlines the terms for renewing or extending an original agreement. The renewal option appears as a covenant in the original agreement and provides specifications under which the entities can renew or extend the original terms for an additional, specified time.

What is the difference between option to renew and extend?

A renewal is the re-creation of the legal relationship and the replacement of the old lease with a new lease. In an option to extend, the original term of the lease is extended without interruption.

How much notice does a landlord have to give if not renewing lease in Florida?

Notice of Non-Renewal in Leases Without a Specific Term 83.56(4), as follows: When the tenancy is from year to year, by giving not less than 60 days notice prior to the end of any annual period.

What is the purpose of the option to renew clause?

A renewal option is a common clause in lease agreements that allow both parties to enter into a new lease when the term is up. Renewal option clauses will outline the timeline and notification requirements for both the tenant and landlord.

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