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The Lease Renewal and Option Agreements (Canada) Business/Services Section

Option to Renew Lease (Canada)

This agreement is between a Landlord and a Tenant whereby the Landlord grants the Tenant an option to renew an existing lease. This option is contingent on the Tenant not being in default and exercising the option within a set period before the expiration of the current lease. This form can be used in the following provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Saskatchewan and Yukon.

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Renewal of Lease Agreement (Canada)

Lease and rental agreements are typically made for a fixed term (e.g. one year). In most cases, at the end of the lease term, the Landlord and Tenant will either enter a new lease, or the Tenant will vacate the premises. However, under certain circumstances, both the Landlord and the Tenant may wish to extend the lease past the expiration of the lease term but would rather not enter into an entirely new lease. In this case, the Landlord and Tenant should enter a Renewal of Lease Agreement. This agreement is simply a written record of their agreement to extend the lease term (the rent can also be adjusted). By entering into this type of agreement, the parties can avoid many future problems and misunderstandings surrounding the renewal. This form can be used in the following provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Saskatchewan and Yukon.

$17.95
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