Valuer. If you are not able to agree a lease extension with your landlord, you would need to go down the statutory route that is the subject of this guide. Template letter. Landlord’s name and contact info. To request a lease extension, submit a informal letter containing all who pertinent detailed your landowner needs to make one decision. This agreement will tie you into an agreed period past your contract end date, normally for either 6, 9 or 12-months. A standard residential lease agreement (or “rental agreement”) is a contract for a tenant to use a landlord’s residential property in exchange for paying rent. If you are a tenant, you cannot just. Wesley, etc. Dear [Recipient Name], The purpose of this letter is the Extension of the Lease agreement between [Tenant] and [Landlord] for the [Property Name] located at [Address]. Read More. A statutory lease extension (sometimes called. To request a lease extension, submit one informal letter containing all the suitable details the landlord needs toward make a decision. You will find that like your original finance documents a formal extension will have a set monthly rental payment, an agreed-upon mileage allowance and be for a set period of time. Tenants typically send this notice of their intent to vacate to property managers 30, 60, or 90 days before the intended move-out date, depending on the requirements of. The subject of the letter should be declared at the beginning of the letter. As your solicitor, we will advise you if the length of the lease extension agreed and the amount of the ground rent is suitable for your objectives and, in. How Starck Uberoi can help. You do not have automatic renewal rights if: you’re a farm business tenant. They offer an informal lease extension and you pay them £10,200. Our rent increase notice template can help you put together a notice for your tenants that’s easy to understand. Sample Lease Extension Agreement. When a tenant’s lease is coming to an end a lease extension letter can be sent by either the tenant or the landlord to request that steps be taken to renew the lease. It’s guaranteed. City, State, Zip Code. Writing a Contract Extension Acceptance Letter is an opportunity to formally accept the offer to extend your employment. However, I understand this can be the more costly route and that some have had success with an 'informal' approach to the freeholder to. On average it takes three months for completion to take place from the date you advise you wish to proceed following your premium offer letter (which. 1. On the other hand, the statutory route provides legal protection, an extended lease term, and standardized procedures. Excellent 4. Sub: Employment Contract Extension. When you’re writing a lease renewal letter, you should include: The names and contact information for the landlord and tenant. Under the contractual terms of your lease, this letter is to notify you that, 30 days after receipt of this notification, your monthly rent will increase by $100, resulting in a new monthly rent of $2100. Your notice to vacate requirement is generally dictated by your lease agreement. To request a lease extension, submit ampere classroom letter includes all the pertinent details your landlord my to make a decision. Informal Route Lease Extensions; 4. The ground rent will be £250 a year, doubling every 10 years. Lease extension costs. signNow has paid close attention to iOS users and developed an application just for them. The end date can be changed if the landlord and tenant agree. However, it is not unusual for freeholders to offer the premium on a “take it or leave it” basis. This form helps the landlord screen the tenant, and it includes information such as the applicant’s: Name. The right to extend a lease on a flat gives an owner the right to add 90 years to the current unexpired term, and also to change the current rent to a ‘peppercorn rent’ (which is in essence. We’ll help you identify the best route for you and your circumstances before you invest time and funds into this procedure. I am ready to pay more rent as the contract of tenancy allows you to raise the rent amount for another year in case you extend it. The. A 30-day notice to vacate letter is common for many leases. Step 2: Decide on New Terms Determine the new rent amount, lease duration, and any other changes. Request Extension on Payment –. I am requesting you to extend it before it expires. Address of Landlord. Lease extension cost ranges from £3,600 to £6,598 for valuation and legal work, Your premium will be based on your valuation, You may also be liable to pay Stamp Duty, You'll have to pay a solicitor or licensed conveyancer to handle the transaction whether you take the informal or formal route. These are the “informal route” and the “formal” statutory route. (Describe in your words). Include the address and date. Dear Mr Mahajan, This letter is a formal request to renew the lease on the property at the above address for another three years. 1. Writing a letter requesting an extension of time involves clear communication, a valid justification, and a demonstration of professionalism. August 22, 2022 July 14, 2021. uk. Updated October 11, 2023. As many of you know, the process of acquiring a student visa (F-1 visa) to the United States is nerve-racking for Indian families. To request a lease extension, take a formal newsletter containing all which pertinent details your landlord needs on make a decision. Dear Name of Landlord: This letter is a formal request to renew the lease on the property at the above address for another year. VAT - Valuation fee: £300 – £375 + VAT - Peabody solicitors costs (standard lease extension): £450 - £550 + VATWhat is an Informal Extension? As the name suggests, an Informal Extension (also known as Extended Hire or a rolling contract) is an informal agreement in which the customer continues to use the leased vehicle beyond the contract end date until collection is requested. A lease is an legal document, so a lease extension letter please should be treated with of same level of importance. A leasing is a legal document, so a lease extension letter request should subsist treated with of same level of importance. Gurvits was named – without comment and together with Peverel and Tchenguiz – in a brief intervention in the rental housing sector debate yesterday by Sir Peter. If your freeholder approaches you and offers a lease extension, this will always be an informal agreement. In the best case scenario, a formal extension will set you back £1,000s, but where your lease is less than 80 years – or even just nearing 80 years – the cost could easily spiral into the £10,000s. A standard residential lease agreement (or “rental agreement”) is a contract for a tenant to use a landlord’s residential property in exchange for paying rent. You can address the recipient by their name as well. Date by which you need a decision, usually 10 days to two weeks. Re: Lease Renewal. Pereira, We are writing this letter to inform you that due to your exemplary work during the previous term of employment with us for 12 months, we are extending your employment contract. Once signed, the agreement is considered. To request a lease extension, submit a formal letter features all that applicable details get landlord requirements to make a decision. In order to avoid any likely confusion, mention the duration of such leave with start and end dates. Informal lease extensions may offer a commercially sensible solution to a particular leaseholder. Please include: Your vehicle registration number. 6. We looked at your payment records carefully and have found that you are already overdue on your account and it has been [ length of time] since your last payment. Gather the Original Lease. Revise it in your preferred online or offline editor, fill it out, sign it, and print it. Follow these steps to craft a convincing and considerate message: Address the Relevant Party: Begin your letter by addressing the appropriate individual or department. DATE. Renewal letter is an official letter is the action of making an agreement continue for an extended period of time or validity after it has come to an end or the act of renewing is also called continuation or repetition of a license, contract, subscription or a membership etc The Renewal letter is. Sample Lease Renewal Letter to Tenant. . Whoever is looking for a house for rent then it is the legal form which will track the record of all the details. But to do so – in practice – you need to have staircased your flat to 100%. The ideal approach we would want to make is serving a s42 to the freeholder and getting the full 90yrs extension (and peppercorn ground rent) we are entitled to (i. Ensuring that you take the steps needed to provide proper notice that you intend to end your lease will go a long way towards avoiding disputes. Although you don't end up using the word for word version, it's better than just starting from a blank paper. Our partner, Raminder Uberoi, can also provide a Notary Public service at any of our London offices. We need more memorandum examples and templates. May 12, 2022Here is what to include: Renter’s name. Approach the Other Party. Department of Housing and Urban Development 451 7th Street, S. 00. If the landlord decides on the latter, a letter should be sent to the tenant stating the following:Step 1: Write the contact information and date. You will need a surveyor to value the cost of the lease extension for you and you will also need to appoint a solicitor to act for you. 42 notice as to avoid any late payment. The second is to simply agree a deal with your freeholder, known as an informal lease extension. . Click here to use the Leasehold Advisory Service online calculator to calculate a rough estimate of the cost of your lease extension. Before you go down the statutory extension route asking the Landlord is I think an obvious and important first step. It is good practice to have this money readily available or even send it to your solicitor upon service of the s. used], a qualified RICS Valuer, to carry out an official lease extension valuation on my property on [insert date]A property manager with FirstPort, who secretly joined a closed Facebook group of leaseholders, is to leave the company. Title: Notice to Tenant of Lease Extension Author: Consumer and Business Services Subject: Tenancies Forms Keywords: lease extension, ending lease, noticePosted by u/apartment_ta - 1 vote and 3 commentsThe subject should be precise and tell what your letter is about. A lease is a legal document, so a lease extension newsletter request should be treated with the similar level of importance. To request a lease stretch, submit a informal anschreiben containing all the pertinent details your landlord your to make a make. Template 3 - Leaseholder's notice to insurer of possible claim. When writing a rent increase letter, be sure to include: Tenant’s name. This letter is regarding an inquiry about the leasing of your property at [mention the name of the location]. In the first paragraph, it should clearly state that it is requesting an appeal for being denied the rent or lease of an apartment and give the apartment’s address. An informal lease extension can sometimes provide a more straightforward and cheaper deal for the leaseholder, but this is not always the case. It will also set out the level in which a section 42 notice should be served upon the landlord. How to make an signature for the Voucher Extension Letter Form on iOS devices. Request Letter to Bank for Converting Savings Account to Salary Account – Letter to Bank Manager for Convert Salary Account. With informal lease extensions, the leaseholder normally approaches the landlord on an informal basis and agrees a premium without serving a statutory notice. Sub: Extension letter of notification for lease property Dear tenant, _____ (Write the name of the tenant here), Your lease agreement for the house property (Reference No: _____) will expire in 3 months. 3. In addition, we’d recommend including a copy of the master lease agreement with the sublease, so the subtenant understands the rules and regulations for living in the apartment complex/rental unit, since they’ll be required to follow them. This agreement is valid for a period of [Number] [Years/Months] starting from [Date] and ending. A future freehold purchase. ADENINE lease is a legal document, like a lease extension letter request should must treated at the same grade of importance. Dear Mr. e. Jeff and Karen Templin. You can ask the landlord to extend your lease at any time. Memorandum Templates & Examples. The Leasehold Reform (Ground Rent) Act 2022 comes into force on 30 June 2022, which means ground rent changes and also lease extension changes, Brady Solicitors explains the impact below. If you own a house and want to extend your lease, you will need to use the formal negotiation route. The deceased would be a qualifying tenant, if their lease was more than 21 years when originally granted and they had been the registered owner of the flat for 2 years before. This must be paid within 14 days. A lease extension agreement, or ‘ lease renewal ‘, allows a landlord and tenant to extend a lease agreement to extend beyond its end date. If you are purchasing, and the lease needs extending, it is possible for the seller (if they have owned the lease for at least 2 years) to start the lease extension process and give the buyer the right to extend (assign the benefit of the notice). The lease is going to expire on 15 th August 20XX. Informal Lease Extensions Early Negotiating Tactics Ask the Landlord. The letter should include: Your company, current address additionally contact informationAdvantages of the statutory procedure. Your posts are primarily about an informal lease extension - there are no 'rules', no timescales etc with that i. Place of employment. The remaining terms and conditions of the lease. You can reach me at +02-87490837 if there is a problem. Date of Amendment: MM / DD / YYYY. Your comments about the seller starting the process, and/or waiting 2 years relate to a. Add the co-tenants’ names. A landlord can propose a rent increase when a new lease agreement is due to be signed or after the original lease has ended and the tenant agrees to an extension under new terms. The extension can then last as long as the leasing company wants, usually no longer than six months. DOC Create Document. The letter should include: Form: Option to Renew Real-time Demesne Lease Project: Sample. the rent should be paid at the 5 th of every month after that $20/- will be. Complete uploads through the Compliance Portal (Production) link available on the Online Systems. Date the rent increase will go into effect. Lease Extension Request for [Rental Address] Dear [Landlord’s Name], Please accept this letter as a formal request for an extension to the lease for [Property Address]. However, for leases above 130 years, any extra years will not add. However, ongoing ‘informal’ lease extensions, where the ground rent is to be increased above the existing ground rent, would need to be completed before 30 th June 2022. Note any clauses related to lease extensions or renewals. Find the original lease and look it over. Property address. half of the marriage value (£8,474 ÷ 2) = £4,237. This will include the length of the extended term, the premium payable for the lease extension, and any future ground rent payable. So, if your current contract is for three years, the maximum length of your formal extension will be two years (24 months). The letter should enclosing:How To Write Long-Form Content with the AI Letter Writer. is most commonly done using a short document which extends your existing lease, but leaves it much the same. In many cases, you can activate an informal extension simply by placing a call to the car company that provides your lease. The initial term of the voucher will be 60 days. It is clear in law that the term of a lease cannot simply be extended by deed. The informal lease extension may be a preferred option to those leaseholders who are short of liquid cash to pay for a premium set under a statutory lease extension It may be advantageous to continue paying the annual ground rent set out by an existing lease if it means paying substantially lower premium for a grant of a new lease. Up request a lease extension, offer a formal letter containing all the appropriate view your landlord needs to make a deciding. Size: 43 kB. Other terms may also change when a contract is extended (such as pricing). Address of Landlord. 38. There are two routes a leaseholder of a flat can consider when thinking about extending the length of their lease. DATE. Landlord/Lessor: [Lessor. Make sure to include the reason and the duration of the extension. Landlords or Property Managers. Ground rent is mentioned only as ‘’New Rent’’. City, State, Zip Code. Note any clauses related to lease extensions or renewals. It can apply to either commercial or residential property. They will then serve a Section 42 Notice upon the. Yours sincerely, John Smith. The valuation date is locked once notice is serviced, therefore the price. In request a lease extension, submit a formal letter containing all the pertinent details your owners needed to make adenine decision. RE: Lease Extension. Once the valuation has been obtained, the leaseholder must serve formal notice on the landlord of the property. Date the increased rent is due. Put it in typing. The terms and conditions of the contract are the same as the original contract. A Georgia 60 Day Notice to Vacate is lease termination letter written to terminate a month-to-month lease. At about 60 years, the cost of extending the lease increases by about 1% of the value of the property each year – i. Thank you once again for your generosity. Schedule Inspection. Next, input your whole name using the left justification. Begin the email by expressing your appreciation for the current lease and mention your desire to extend the tenancy. Atlanta. Depending on the landlord’s preference, a simple lease renewal may be sent to the tenant or the landlord may decide to re-write an entirely new lease agreement to the tenant. Dear Ms. 8. Formal Lease Extension – The Disadvantages. Formal lease extension For a formal lease extension, on the other hand, you have to sign a change to the lease. Renewal means resuming once or to start again after a break. Express gratitude for the. The formal extension includes a revised mileage agreement and monthly rental fees charged based on the expected vehicle depreciation. You can keep your vehicle for a total of five years, including your original contract and formal extension. If the freeholder agrees then both parties will have to negotiate. Informal lease extension process. The upshot of the above and good advice for owners of converted flats or residential long leaseholders in larger blocks is to :-A rental is a authorized certificate, so an lease extension write request should be treated with and same level of importance. In this instance there would be no rental payment for a period of time and the lease will be extended accordingly. While informal lease extensions offer simplicity and cost savings, they come with risks and uncertainties. Template 11 - Letter to court asking for case to be transferred to First-tier Tribunal Read More . Is the informal lease extension route-Brady solicitors? Brady. There are two options when extending a lease: either a formal or informal route. Free Spot: Lease Termination Letter 1. This is a basic letter that can be used to request for an extension of the lease or the renewal of the lease. City, State, Zip Code. Once you have owned the flat for two years, you have the right to a lease extension. Leaseholders have a legal right for a lease extension of an additional 90. The current value is £150,000, and the improved value following the lease extension is £165,000. Our offices are located in Brentford, Ealing, London Belgravia and Canterbury, all within easy reach by public transport. e. A late rent notice (or a notice to pay rent) is a written letter from the landlord informing the tenant that rent is past due and requesting the tenant pay the overdue rent immediately. How is the price of an informal lease extension determined? The premium that should be charged for the lease extension needs to be negotiated between the parties. Cloned 61,887. Louie Burns, of Leasehold Solutions, has written on the LKP website about the cheating played by freeholders with informal lease extensions. U. The term of your current lease will expire soon and we would like to renew your lease for another year. Superior landlord lease extension. The renewal terms or any changes to the terms of the original lease. Whereas the informal route, whilst it may be cheaper in the short run, you may have increased ground rent and the extension period on offer may only be another 30odd years to take the lease back up to 99 years. The landlord can then choose to accept this offer or respond with a Counter-Notice and their own asking price. A leaseholder will normally approach the landlord in writing with a request for a lease. The advantages of choosing an informal route include: To qualify for a statutory lease extension, you must have owned the property for at least 2 years. [Landlord’s name] [Landlord’s address] [ Date] Dear [landlord’s name] I am the leaseholder of [ insert address of the flat] and I am writing to you to enquire about extending the lease of my flat. Informal lease extensions, on the other. By far, they are the best residence in the whole region. A lease non-renewal letter is sent prior to when the lease ends. You should then refer to the original leave already granted to you. We are happy to offer to extend your lease back up to 99 years for the inclusive price of £10,200 and our total legal and valuation fees will be an additional £1,000 pus VAT. The type of lease — e. Sample Lease Extension Letter. Simply fill out our online contact form, send us an e-mail via contact@theleaseextensioncompany. The body of your letter should be somewhere between 1-3 paragraphs. Step 3. This letter should explain why you need the requested accommodation / modification because of your disability. It helps the landlord to set new terms, such as a change in the rental price, while also letting the tenant know if they can stay in the property for another year if they choose. Leaseholders have a legal right for a lease extension of an additional 90 years with zero ground rent. Get in touch today on 0161 696 6187. The address of the rental property and unit number, if applicable. Step 2 – Give the Tenant a Rental Application Form to Fill Out. For an informal extension, the company must agree to it. 6 / 5 Based on 1899 reviews. [Add this if the premium offered has been derived from an official RICS Valuer's lease extension valuation:] I appointed [name of RICS . Use the guide and template provided to effectively convey your request, enhancing your chances of receiving a favorable response. Book an Appointment Today. net's Free Renewal Letter Templates in PDF. The duration of the lease will be 2 years. Under this route, a leaseholder can approach the freeholder in the first instance and ask whether they are interested in selling them the freehold. It is important to extend the lease as soon as possible, as the cost of the premium is significantly. As many of you know, the process of acquiring a student visa (F-1 visa) to the United States is nerve-racking for Indian families. Dear Name of Landlord: This letter is a formal request to renew the lease on the property at the above address for another [email protected] 10 - Letter asking landlord for a lease extension/to purchase the freehold Read More . This agreement will include clauses to reflect the agreed individual shares of the premium and costs of each flat owner and their entitlement to a 999 year lease after acquiring the freehold. The form of new lease is regulated and the landlord’s mandate to increase future revenue streams is curtailed. Name of Landlord. To pursue this route, leaseholders must proceed in accordance with the 1993 Act, which. This will be determined as part of the process. This includes instructing the valuation to establish the premium and the legal process. It is usually a single line or phrase. He will have the option to keep on leasing on a month-to-month basis, every 6 months, or every year. Feel free to change the fonts and colors, drop in a text box for terms and conditions, write a personalized message, and add your logo for a more official touch. Use the guide and template provided to effectively convey your request, enhancing your chances of receiving a favorable response. Dear sir, I, Amrita (employee ID: 12345), am on maternity leave since February 15. Conclusion If you wish to carry out alterations or improvements, the lease needs to be examined carefully to check whether consent is needed and the extent of the leaseholder’s demised premises. Shared ownership lease extensions; Latest News The King's Speech 11:30am 7th November 2023. The letter should include: State of Georgia Rental Assistance Programmer We can help you with your lease extension whether it is following the statutory route or an informal lease extension. £20-£45. For a flat with 80 years left on the lease and expected to be worth £400,000 with a lease extension complete, and ground rent of £100 a year, a lease extension will cost from about £7,000 to £10,000 plus costs mentioned below. Rated 4. Writing a solid, thorough lease termination letter is one step towards parting ways. ( i) The lease shall have a twelve month term. See moreTemplate letter. How to write an informal lease extension enquiry. Whilst an informal lease extension is a solution to any leaseholder not meeting the qualification period and sometimes even those that do, expert advice should be sought from a surveyor with regards to acceptable premiums (a premium being the price payable for the additional years granted) and ground rents, and from a solicitor in relation. L&Q are the freeholder of your property, and we are proud to be able to offer you a 990 year lease extension, inclusive of your existing lease term, with a ground rent of a peppercorn (£0). This template can be used for residential, commercial, or short-term leases. Employee Acknowledgement Letters. follows a formal timetable where you. How to Write a Lease Extension Letter. Jul 21, 2021. The formal route involves using your statutory right to a lease extension under the Leasehold Reform Housing and Urban Development Act 1993. Sample Lease Renewal Letter. Put it in writers. A lease is ampere legal document, so a tenancy extension letter request must be treated with the same level of importance. Write Notice. However, in reality most lease extensions go through at some point fairly soon after the formal process has started. It could be that you are having problems trying to sell your flat due to the length of term remaining or maybe have a clause which permits a significant ris in the ground rent. This fee will be non-refundable, and they know this. As the terms of the acquisition of the. “Sample Lease Expiration and Renewal Letter” November 5, 1999. Does it matter? In this feature, Linz Darlington, MD of Homehold, explains what you need to know when it comes to formal v informal lease extensions. com or by pasting into the form below. Osbornes Law’s lease extension calculator suggests a property worth £450,000. If the tenant moves out before that date, they might need to pay break lease costs. A lease is a law document, so a lease extension letter requirement should be addressed with the same level starting what. Name and information of the tenant and landlord. Frank will pay $600/- per month as the rent of the apartment. I’ve owned the property for over 2 years so the lease extension can be done via the formal route but to throw a spanner in the works the freeholder has sent me a letter out of the blue offering up to £1k towards my legal fees if I wanted to extend the lease via the informal route. Informal Letters. Lease Extension Request for [Rental Address] Dear [Landlord's Name], Please accept this letter as a formal request for an extension to the lease for [Property Address]. An Amendment will be attached to your lease of [DATE]. Currently, the lease is set to expire on [date]. 43 Best Lease Extension Addendum (+ Renewal Agreements) If you are looking to write a lease extension agreement, you might have looked at other lease extension addendums or lease extension forms. Below is the sample letter for the extension of maternity leave (email format). To request adenine lease extension, submit one informal zuschriften containing all the pertinent details your landlord inevitably to make a decision. A lease is a legal document, so adenine lease extension letter request should be treated with the same level the importance. Generally speaking, a lease non-renewal letter is sent 60. Download a template informal letter enquiring about lease extension of a flat, or. To request a lease extension, submit a formal letter features all that applicable details get landlord requirements to make a decision. Key Takeaways. Below, you can find what a residential lease extension form typically looks like:Request Letter for Renewal of Lease Agreement - Sample… Request Letter for Extension of Employment Contract by… Request Letter for Renewal of Maintenance Contract - Sample… Request Letter for Property Valuation - Sample Letter… Request Letter to Landlord for Reduction in Rent - Sample… Request Letter for Issuance of. 0800 098 2770. She's used the "informal" route meaning the HA arranged a surveyor to visit and value the extension - their figure is non negotiable, but fair in our view. Note: For fixed term leases in North Carolina (i. Here he turns his attention to the minefield of dealing with your freeholder to get a formal lease extension. 1. Download: PDF | Word. There are 6 steps in the lease extension process: Step 1 – Inform the freeholder of your desire to extend the lease and that you will be pursuing the statutory route. To request a tenancy extension, submit a informal letter containing all which relevant details your landlord. For example, “I am on leave for 10 days from [start date] to [end date]”. VAT - Valuation fee: £300 – £375 + VAT - Peabody solicitors costs (standard lease extension): £450 - £550 + VAT Contact the Nationwide Vehicle Contracts team on 0345 811 9595 or email our Extensions team to request a Contract Extension. This can be between one month to 45-days in most areas. Step 2: Decide on. It can apply to either commercial or residential property. CIF Turn-in Memorandum (. Newest recent off June 12, 2023. Increasing Rent When Renewing a Month-to-Month Lease. Once you finish writing your lease extension form, send a copy to your tenants for signatures. By law, you are entitled to extend your lease for a further 90 years. When you informally agree an extension of your lease with your landlord, you can agree any terms between you, including the length of the lease extension and the amount of the ground rent. However, some rental agreements require more or less notification, so always check your lease. June 9, 2023 June 1, 2022. Renewal of Insurance Policy: To negotiate new terms and an extension for insurance. ”. There is more information on formal negotiations below. You can position the date at the top left of the letter or after the recipient's address. Tenancy Services - Doing changes to an tenancy agreement. Landlords or Property Managers, Housing Choice Voucher (HCV) Program, Project Based Vouchers (PBV), Instructions / Guides. For landlords who pay their rental property’s utility bills, a sudden increase in usage can be an unwelcome surprise. Online ID Fee Per Person – £8. Caliph, Mrs. Late Payment Letters. When writing a rent increase letter, be sure to include:. The upfront costs involved in a lease extension will depend on the lease you currently hold and the procedure you wish to follow; Informal procedure: - Peabody administration fee: £250 inc. Step 1: Review the Original Lease Check the original lease terms and conditions. For more information please visit our Conveyancing page. • 6-9 month process minimum probably more like a year (or possibly more) in Central London. For an explanation of the difference between the formal route (sometimes called statutory route) and the informal (sometimes called voluntary route) click here. Lee, I intend to renew your lease dated July 30, 2019, that will end on July, 30 2032. Once you agree on the rent price, the tenant should complete a rental application. Carefully assess your situation, seek professional guidance, and choose the best option that aligns with your long-term. The report is sent directly to Sanctuary Housing Association. ”. Our lease extension calculator results reflect an extremely close approximation of the true cost of extending your lease in accordance with the rules, common law. Use their proper title and name if known.