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GETTING A LEASE EXTENSION

Extending your lease means that you wish to stay longer than what it says on your lease agreement. Most landlords are happy to extend the lease provided that you are a good tenant and you have no intentions on breaking a lease agreement. There are several pros to extending a lease and several different ways to go about it. Make sure you understand the terms and conditions involved in extending a lease for any period of time.

Pros to Extending Your Lease

A standard lease agreement is for twelve months but you can also sign onto a six month short term agreement as well. What this means is that you are responsible for living in the house and paying the rent for a period of 12 months. After this 12 month plan is over you can either choose to extend the lease or move out.

Extending the lease is the easy option as it means you don't have to find a new place to live or move out. However, if you are unhappy with the place you are living in any way, then you might be happier to move out and start again somewhere else. Extending the lease usually means that you will need to sign another agreement for a certain period of time and thus you need to be sure that you are happy and committed to the rental property.

Types of Lease Extensions

There are two options when extending your lease which you and your landlord will need to discuss. One option is to extend it on a month to month basis. What this means is that you can choose to move out as long as you give a month notice. The good thing about this is that you are not really signing another long term lease. You can stay for another two months, for a total of 14 months if you choose.

The bad thing about these short term extensions is that it does not give you any security in terms of control for your rent. Your landlord can choose to increase the rent at the end of the month and you will either have to pay it or choose to move out. This can definitely be seen as a negative when extending the lease on a monthly basis only.

Another option you have when extending the lease is to sign another long term lease agreement. You might be able to only sign a 3 month, 6 month or another full year agreement depending on the demand of apartment rentals in your area. If your landlord is happy with you then he might be willing to only make you sign a three month lease and then take it from there.

This really depends on his situation as well as yours. If you are happy where you are and don't plan on changing jobs or moving across the state anytime soon, then signing another year lease might be in your best interest as it means controlled rent and a place to stay for at least another year.

Getting a lease extension is a simple way to stay where you are and one of the main options you have when your lease comes to an end. When you are nearing the end of the lease have a think about what you want to do next and discuss it with your landlord. Extending the lease might not be possible if he plans on selling the place or already has someone else in mind, but you never know until you talk to him about it.

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