Either party may end their lease at the end of the original term (or any renewal term) by written notice. The Landlord or Resident must give written notice at least sixty (60) days before the end date of their lease. A 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), or if the Landlord does not send a renewal notice. A Lease will renew on the terms in the Landlord’s renewal notice if the Resident does not send a notice ending the lease.
At least seventy-five (75) 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 sixty (60) days if the Resident rejects these changes and therefore desires to terminate the Lease. If the Resident does not respond to the Property Owner’s changes, the changes will become part of the Lease (amending it to the extent that the terms are inconsistent with the present Lease). If a Lease is ended and the Resident does not vacate on the ending date, the Resident must pay double the last monthly rental charge. This double rental charge is due for each month — or the part of the month that the Resident remains in possession of the leased unit after the end date of the Lease or renewal.
A resident who chooses to renew a lease for another full term is permitted to break the lease
only if all the following conditions have been met:
A. Resident has rented their apartment for over one (1) year.
B. Notice to vacate must be provided (in writing) at least sixty (60) days before the date on which the Resident wishes to vacate.
C. A termination fee equivalent to one month’s rent will be charged as a reimbursement for administration, apartment preparation, and/or releasing costs.
We look forward to serving you for another year! If you have any questions concerning the renewal of your lease, please give us a call at 215-886-8030, or email us at email@example.com.