Replace ink in the Lease Renewal

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Aug 6th, 2022
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How to replace ink in the Lease Renewal

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hi this is david with touchpoint property management and in this video id like to review with you the resident lease renewal procedures so 70 days prior to your lease end date a member of our team will docHub out to you by email with your lease renewal options 60 days prior to your lease end date you must let us our team know in writing if you plan on renewing your lease or terminating and moving out of the property if you do accept the lease renewal offer then a new lease will be emailed to you for signing online please make sure that you read the new lease agreement thoroughly as changes are made to the leases year after year and we want to make sure that you are fully aware of everything before signing so theres no surprises once the lease agreement is signed youll you will be held accountable for all the terms and conditions on that lease you will also be required to submit an updated copy of your renters insurance policy you also have an option to default to our renters insuran

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.
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An option to renew confers on the tenant a right to continue to rent the property for a fresh term after the expiry of the current term, i.e. to renew the existing tenancy. With an option to renew, the tenant obtains another term of tenancy and the landlord is somewhat secured with rental income as agreed beforehand.
The new landlord will have to follow the terms of the lease you have with the old landlord until the lease ends. Any security deposit will be transferred from the old landlord to the new one. The landlord might also return it to you and youll have to pay a deposit to the new landlord.
Definition. A renewal option is a clause that provides two parties the opportunity to enter into a new legal agreement for a new term.
You Can (Usually) Keep the Existing Security Deposit in Place, Even if You Raise the Rent. When you renew a lease, you are signing a new tenancy agreement. Maybe everything is staying exactly the same, or perhaps youre raising the rent. Either way, you can opt to carry over the existing security deposit.
So, the Landlords in Colorado can collect as much as they want. Yes, you are right about the frequency of the increase. Generally, you are not requested to pay for another Security Deposit each time you renew your lease.
Options to renew may be preferable to one lease of many years because they provide the tenant with a means for discontinuing the lease at the end of a specified period. For example, under a lease of 3 years with two options of 3 years each, the tenant can choose to end the lease after 3 or 6 years.
An option to renew is a clause in a commercial lease that grants the tenant the right to extend the lease for an additional term, typically under the same conditions as the existing agreement but with a varied rental rate.
A renewal option allows for a lease to apply to a specified time period, but the lease can be extended for another term if agreed upon by the participating parties. Renewal options may have specifications or conditions, such as when the lessee must let the landlord know if they will be renewing.

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