What does tenant lease renewal entail?

Tenant lease renewal primarily involves extending the lease agreement for an additional term. This process typically occurs prior to the expiration of the current lease and allows both the landlord and tenant to continue their rental relationship under agreed-upon terms.

When renewing a lease, many landlords and tenants will review the existing lease conditions to determine if any changes need to be made, such as updates to rental amounts or modifications to rules and policies. However, at its core, lease renewal is fundamentally about maintaining the tenancy for another period rather than ending it or making unrelated changes that would not apply to the renewal context.

Additionally, the act of renewing a lease usually means that the tenant continues to occupy the property under the same conditions as before, unless explicitly negotiated otherwise. This provides security for the tenant and helps landlords maintain their occupancy rates.