Common use of LEASE RENEWAL Clause in Contracts

LEASE RENEWAL. When one or more tenants choose to sign the lease for the same premises for another year, the lease is considered "renewed" and occupancy continues, without interruption, for a consecutive 12-month term. Before a lease may be renewed, the incoming and outgoing residents must all sign a Lease Renewal Agreement, agreeing to the following conditions: Rent may increase for the new lease term and will be noted on the new lease. If the rent increases, the tenants will pay the additional damage deposit when the new lease is signed. The prior lease damage deposit is carried over to the new lease. (Damage deposit is equal to one month’s rent.) CBS does not refund individual portions of the damage deposit to those Residents who do not renew the lease. Because the lease is a renewal, CBS does not conduct a move-out inspection, or clean/refurbish the premises before the new Residents move in. The incoming and outgoing residents assume all responsibility for working out a fair exchange of damage deposit. Similarly, the incoming and outgoing Residents should also agree on how the property will be left for the incoming Residents regarding cleaning, damages, etc. Any account balance due at the end of the first lease term carries over to the next lease term and all Residents listed on the new lease are responsible for the balance. The move-in inspection (condition) report on file will be used to determine any damages at lease termination. Unless prior arrangements have been made, all monies must be paid before Move-In. The money you paid when you signed your lease was NOT the first month’s rent. To avoid a Late Fee, check your lease to see when your first rent installment is due.

LEASE RENEWAL. When one or more tenants choose to sign the lease for the same premises for another year, the lease is considered "renewed" renewed and occupancy continues, without interruption, for a consecutive 12-12- month term. Before a lease may be renewed, the incoming and outgoing residents must all sign a Lease Renewal Agreement, agreeing to the following conditions: Rent may increase for the new lease term and will be noted on the new lease. If the rent increases, the tenants will pay the additional damage deposit when the new lease is signed. The prior lease damage deposit is carried over to the new lease. (Damage deposit is equal to one month’s rent.) CBS does not refund individual portions of the damage deposit to those Residents who do not renew the lease. Because the lease is a renewal, CBS does not conduct a move-out inspection, or clean/refurbish the premises before the new Residents move in. The incoming and outgoing residents assume all responsibility for working out a fair exchange of damage deposit. Similarly, the incoming and outgoing Residents should also agree on how the property will be left for the incoming Residents regarding cleaning, damages, etc. Any account balance due at the end of the first lease term carries over to the next lease term and all Residents listed on the new lease are responsible for the balance. The move-in inspection (condition) report on file will be used to determine any damages at lease termination. Unless prior arrangements have been made, all monies must be paid before Move-In. The money you paid when you signed your lease was NOT the first month’s rent. To avoid a Late Fee, check your lease to see when your first rent installment is due.

LEASE RENEWAL. When one or more tenants choose to sign the lease for the same premises for another year, the lease is considered "renewed" and occupancy (the tenancy) continues, without interruption, for a consecutive 12-month term. Before a lease may be renewed, the incoming and outgoing residents must all sign a Lease Renewal Agreement, agreeing to the following conditions: Rent may increase for the new lease term and will be noted on the new lease. If the rent increases, the tenants will pay the additional damage deposit Damage Deposit when the new lease is signed. The prior lease damage deposit Damage Deposit is carried over to the new lease. (Damage deposit Deposit is equal to one month’s rent.) CBS does not refund individual portions of the damage deposit Damage Deposit to those Residents who do not renew the lease. Because the lease is a renewal, CBS does not conduct a move-out inspection, or clean/refurbish the premises before the new Residents move in. The incoming and outgoing residents assume all responsibility for working out a fair exchange of damage depositDamage Deposit. Similarly, the incoming and outgoing Residents should also agree on how the property premises will be left for the incoming Residents regarding cleaning, damages, etc. Any account balance due at the end of the first prior lease term carries over to the next lease term and all Residents listed on the new lease are responsible for the balance. The move-move- in inspection (condition) report on file will be used to determine any damages at lease termination. Unless prior arrangements have been made, all monies must be paid before Move-In. The money you paid when you signed your lease was NOT the first month’s rent. To avoid a Late Fee, check your lease to see when your first rent installment is due.

LEASE RENEWAL. When one or more tenants choose to sign the lease for the same premises for another year, the lease is considered "renewed" and occupancy continues, without interruption, for a consecutive 12-month term. Before a lease may be renewed, the incoming and outgoing residents must all sign a Lease Renewal Agreement, agreeing to the following conditions: Rent may increase for the new lease term and will be noted on the new lease. If the rent increases, the tenants will pay the additional damage deposit when the new lease is signed. The prior lease damage deposit is carried over to the new lease. (Damage deposit is equal to one month’s rent.) CBS does not refund individual portions of the damage deposit to those Residents who do not renew the lease. Because the lease is a renewal, CBS does not conduct a move-out inspection, or clean/refurbish the premises before the new Residents move in. The incoming and outgoing residents assume all responsibility for working out a fair exchange of damage deposit. Similarly, the incoming and outgoing Residents should also agree on how the property will be left for the incoming Residents regarding cleaning, damages, etc. Any account balance due at the end of the first lease term carries over to the next lease term and all Residents listed on the new lease are responsible for the balance. The move-move- in inspection (condition) report on file will be used to determine any damages at lease termination. Unless prior arrangements have been made, all monies must be paid before Move-In. The money you paid when you signed your lease was NOT the first month’s rent. To avoid a Late Fee, check your lease to see when your first rent installment is due.