Lease Termination. Lease Extension - Informal Vs Formal Route . The original contract must be followed when making monthly payments. Date letter is written. To end a lease agreement, you must send a tenant written notice to terminate the tenancy. 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. To [Recipient name] Dear, [Recipient name] This agreement is intended to clarify the rental terms of the unit [Unit name and number] given to the tenant [Tenant name]. Be sure to keep copies for your records. Random Letter Requesting Extension of Time (Visa or Permit) [Your Name] [Your Address] [City, State ZIP Code] [Email Address] [Today’s Date] [Recipient’s Name] [Recipient’s Address] [City, State ZIP Code] Dear [Recipient’s Name], I am writing to request an extension on my [Visa/Permit Type] any is set to decay on [Current Expiration Date]. Close with a polite and professional sign-off. 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. How to write an informal lease extension enquiry letter. I would like to amend that date to end on [new date]. The lease on my premise expires on the 31st of March 2012, and I would like to renew it until 31st March, 2015. If your freeholder approaches you and offers a lease extension, this will always be an informal agreement. A typical lease extension process would involve the following: Instruct a surveyor to carry out a lease extension valuation on your property, this will normally set out a fair and reasonable premium for a lease extension. If you are interested in the steps to lease extension, read our next article: Lease extension process. co. Remember to be respectful, concise, and appreciative in your approach. The letter supposed include: Your name, current address and contact information 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. Attach any documents or evidence you may need to support your request. 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. To request a lease extension, submit one informal letter containing all the suitable details the landlord needs toward make a decision. 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. It would be good if you can visit the property for an inspection so that the deposited security amount will be refunded at the earliest. 2. Because of my previous good rental record, I hope you will allow this first-time extension for me. 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. half of the marriage value (£8,474 ÷ 2) = £4,237. Most automaker finance units and third-party financial institutions will grant a one-time extension of a car lease past its end date by a fixed number of months (generally 12 or. A leasing is a legal document, so a lease extension letter request should subsist treated with of same level of importance. Informal lease extensions don’t need to follow the same process. ONE well-written rent increase notice can promote you retain residents. On the other hand, the statutory route provides legal protection, an extended lease term, and standardized procedures. To: k. Dates: February 14, from 9am to 11pm. Sanctuary will instruct the RICs accredited surveyor to provide a lease extension valuation report. Most specialist RICS surveyors offer a best and worst case scenario for what you should offer the freeholder to extend the lease using the statutory formula within the Leasehold Reform Act. 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. This letter serves as one informal. May 12, 2022Here is what to include: Renter’s name. This rental agreement letter is written between George Robert (landlord) and William Frank (lessee) for the apartment located at 567- White road North Ohio. [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. Dear sir, I, Amrita (employee ID: 12345), am on maternity leave since February 15. Free Spot: Lease Termination Letter 1. Make them informal because this is a person known to you. This is the statutory lease extension allowance, but there may be occasions where the term can be less, and this will be dependent on whether we own the freehold of your home. The address of the rental property and unit number, if applicable. DOC Create Document. ”. The valuation date is locked once notice is serviced, therefore the price. The initial term of the voucher will be 60 days. There are two routes a leaseholder of a flat can consider when thinking about extending the length of their lease. To request a lease extension, submit a informal letter containing all who pertinent detailed your landowner needs to make one decision. In this extension time, you have to pay extra $10 per month. Call 020 8840 6640 or email solicitor@starckuberoi. Date the letter was written. The form of new lease is regulated and the landlord’s mandate to increase future revenue streams is curtailed. My leave expires on March 12. He will have the option to keep on leasing on a month-to-month basis, every 6 months, or every year. Read More. If the freeholder agrees then both parties will have to negotiate. Generally speaking, a lease non-renewal letter is sent 60. Opportunity Home will not approve an extension for a voucher unless the initial term of the voucher will expire before the receiving PHA issues a voucher to the family, the family. Template 1 - Letter to landlord asking for insurance summary. Freeholder valuation. follows a formal timetable where you. Ref: Lease agreement, 10/08/2020. Aug 31, 2021. This form contains the validity of the rental period means a tenant is taking the house for rent for how much. The company must grant permission for. Sign the Addendum. Recent case increases premiums. Jeff and Karen Templin. For an informal extension, the company must agree to it. Sample – Non-Renewal Lease Letter. 6 KB PDF) are for a specific term, for example 12 months, and include the date the tenancy ends. This letter is a formal request to renew the existing lease on the property at the (full address) for another (Number of years) years. You would only need consent from your lender for an informal lease extension - not for a statutory lease extension. The cost of a lease extension is directly tied to the value of the property. My daughter is extending her lease at the moment. Time Period. Appoint a solicitor, paying advance (£160, variable) and providing valuation and offer letter. Include your full choose and any relevant employment title or affiliation. serving their airports. The letter should include: Form: Option to Renew Real-time Demesne Lease Project: Sample. You can position the date at the top left of the letter or after the recipient's address. Ground rent is mentioned only as ‘’New Rent’’. Informal route. Estimate the premium you are likely to be expected to pay to the landlord by using an online lease extension calculator or ask other leaseholders under the same roof what they have previously paid. Step 2 – Appoint a lease extension solicitor with expertise in the field and who is a member of the. co. Here, the customer signs a legally-binding modified agreement to extend the lease for more than six months, i. These follow the standard membership renewal letter format. A lease exists a judicial document, so a lease extension book request should be treated with the same level of import. Denial of Request for Extension of Time letter – sample 2. 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]. Urinalysis Authorization. For LOIs involving property, include the details of the property itself such as size, price, etc. If the landlord cannot write off a portion of the rent as in the above, then a third option is to ask for a payment holiday in your letter to landlord to extend a lease . Cons. “Sample Lease Expiration and Renewal Letter” November 5, 1999. FirstName] [Lessor. A tenant may receive a warning design letter for the following reasons: The tenant damaged the property or a particular area of the space being rented. Under the legislation, the freeholder must give you a lease of an additional 90 years on top of what you already have. Once you have completed the self-assessment using the Wear and Use guidelines, you can schedule a complimentary pre-inspection within 60-days of your lease-end date. The formal route. the rent should be paid at the 5 th of every month after that $20/- will be. Name of Landlord. Unlike a lease. The missive must include: Singapore FinTech Association, Singapore Institute of. When writing a rent increase letter, be sure to include:. TEMPLATE DOCUMENT. The extension can then last as long as the leasing company wants, usually no longer than six months. 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]. 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. When you’ve signed up and paid for your subscription, you can utilize your Sample Letter for Lease Extension - Relocation as often as you need or for as long as it remains active where you live. Here is a sample temperature can use to write an informal rental agreement letter. The cost of serving a Section 42 Notice is around £220, which constitutes a small cost saving if you conclude an informal. If the deceased was a qualifying tenant under the law, you would have the right to extend the lease within two years of the grant of probate or letters of administration. A leaseholder will normally approach the landlord in writing with a request for a lease. 12 July 2020 at 9:06PM. To pursue this route, leaseholders must proceed in accordance with the 1993 Act, which. Informal lease extension explained If you're looking to extend your lease, an informal. How to Extend a Lease (4 steps) Gather the Original Lease. Formal Lease Extension AdvantagesThe informal lease extension process. I intend to relocate to a new place after getting an indefinite job transfer. If you’re in an informal extension for. 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. Renewal of license: To extend a licensing agreement. you’re on fixed-term tenancy of 6. The landlord’s interest is the term plus half of the marriage value: term (£622) plus the reversion value (£5,978) less the proposed interest (£74) = £6,526. Lease renewal agreements help. , Washington, DC 20410 T: 202-708-1112Letter of Notification of Filming Sample. 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. The lease term, or period of time the rental contract is in force. Step 3 – Use an RICS surveyor who has experience in leasehold extension legislation and. The subject of the letter should be declared at the beginning of the letter. This is to notify you that I will not be renewing your current lease for the property located at 100 Abraham Road, Lansing, MI 30090. In fact, freeholders will soon likely be legally obliged to reduce ground rents to zero in lease extensions anyway. I am very grateful for your kindness, and I will take you up on your offer immediately. Save money not paying for the formal route's Section 42 Notice. The main advantages of the informal lease extension are: Speed : the formal route requires a notice to be served on the freeholder and they are given up to 2 months to. Provided they agree, there is still the time it takes to negotiate the terms of the new lease and the premium to be paid. Our partner, Raminder Uberoi, can also provide a Notary Public service at any of our London offices. Rental and Lease Agreement Templates. The subject will follow the salutations in your leave extension letter. Reasons for extension. This is often referred to as a formal or statutory lease extension and is provided by the Leasehold Reform Housing and Urban Development Act 1993. The remaining terms and conditions of the lease. Read More. 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. The second is to simply agree a deal with your freeholder, known as an informal lease extension. £20-£45. Currently, the lease is set to expire on [date]. The letter supposed include: Your name, current address and contact. Subject: Letter of Inquiry for Leasing. Using Jotform’s PDF Editor, you can modify any letter template to perfectly match your needs. 1. Another ploy by predatory freeholders is to offer an informal lease extension to flat owners when they know they are going to sell the freehold of the building. Free Agreement Renewal Letter. 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. On request a lease extension, submit a formal letter incl all the pertinent details your landlord needs to induce a decision. Once a lease term falls below 80 years the premium for an extension may increase. 00. Contact the freeholder to request a lease extension. A rental and lease agreement is a document that outlines the arrangement between an owner of a property, known as the “landlord” or “lessor,” and someone who pays rent to. This must be paid within 14 days. To claim ampere let extension, submit a formal letter containing every one pertinent details your landlord needs to make a decision. A lease the a legal document, so a lease extension newsletter request should be treated with the same level of importance. In consideration for this extension to the term of the lease, the. 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. Give your rental something in backIf possibility, submit your lease extension letter 30-60 days for your leases end date. PDF . Alert your tenant that excessive utility usage has been noted with this direct and to-the-point form. Our partner, Raminder Singh Uberoi, can also provide a Notary Public Service. I have made payments of $200 per month for the past 18 months, and the loan is for 12 more months. you’re a service tenant employed by the landlord. 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. Late Rent Notice Template. A LEASE adviser can consider the terms of the lease to identify if possible what is part of the demised premises and what belongs to the landlord. 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. The address of the rental property and unit number, if applicable. Currently, the lease is set to expire on [date]. Whilst informal lease extensions may not be right for every situation, they remain a viable option for tenants looking for some flexibility when extending their lease. Failure to give this notice may mean the lease converts into a month-to-month tenancy when it expires. Download and use this template to write a letter to the lessor asking to extend your lease. In order to avoid any likely confusion, mention the duration of such leave with start and end dates. 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. As the terms of the acquisition of the. The extension period starts immediately after the elapse of the previous contract. All formal letters start with the contact information and date. It is important to extend the lease as soon as possible, as the cost of the premium is significantly. Please include: Your vehicle registration number. Lease Extension Valuation Using a Qualified Valuer – £500 to £1000. This addendum may be used to extend an expiring lease in order to keep a tenant that is renting commercial or residential property. She owns the flat 100% with a mortgage but the block is owned by a housing assoc. Are you eligible to use the formal route?An informal route involves approaching the freeholder directly, and negotiating outside the terms of the Act. A statutory lease extension allows a leaseholder to add 90 years onto the term remaining on their lease. The informal route is where the leasehold er simply contacts their landlord (usually the freeholder) to try and negotiate a lease extension. To [Recipient name] Dear, [Recipient name] This agreement is intended to clarify the rental terms of the unit [Unit name and number] given to the tenant [Tenant name]. 1. 6. Informal Car Lease Extension An informal extension is often a temporary measure that helps smooth out the transition between one lease and another. By far, they are the best residence in the whole region. I presently have (insert number of years) left on my lease. The informal route. Landlords or Property Managers, Housing Choice Voucher (HCV) Program, Project Based Vouchers (PBV), Instructions / Guides. Rent can't be increased during a fixed term agreement unless a. An early lease termination letter is a request sent by a tenant to a landlord or property management company asking for the early or premature termination of their agreement which is intended to end in a specific period or date. Please confirm whether you are agreeable to negotiate the (extension of my lease/ purchase of the freehold) and, please set out the price and terms on which you prepared to do so. LastName] . Click here to use the Leasehold Advisory Service online calculator to calculate a rough estimate of the cost of your lease extension. 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. The original contract must be followed when making monthly payments. For more information, please see the lease extension page on our website. U. The end date can be changed if the landlord and tenant agree. Informal route. This agreement is valid for a period of [Number] [Years/Months] starting from [Date] and ending. Most states. Until request a lease extension, submit a formal letter containing all the pertinent details your landlord needs to make a decision. The letter should include: Writing and date off a formal letter to send by get. ”. com or call us for free on 0800 030 6908. Use our template informal lease extension letter The valuation letter should include the premium you are offering for the number of years you want to. uk or call 0208 840 6640. Dear [Landlord's Name], Please accept this letter as a formal request for an extension to the lease for [Property Address]. See moreTemplate letter. , 1-year), click here. Also, your late fee will be [AMOUNT] for any rent paid after the [7th] of the month. Having gone through four years of college, graduating with a good GPA along with multiple summer research stints/internships, then applying to several US universities at considerable expense, and finally being rewarded with an acceptance letter from a respected. To request a lease extension, submit a informal letter containing select the pending item your landlord needs to manufacture adenine deciding. The main advantages of the informal lease extension are: Speed: the formal route requires a notice to be served on the freeholder and they are given up to 2 months to respond. The longer the span of the term, the lower the total price gets. Lee, I intend to renew your lease dated July 30, 2019, that will end on July, 30 2032. Subject: Extension of maternity leave. Extension of lease agreement form is made between the landlord and the tenant. farm equipment and/or livestock) to convey the right to use that property to a person or business for a designated period of time in return for some type of payment. Online ID Fee Per Person – £8. Whether you are a landlord or a tenant, ending a rental relationship can be difficult. Renewal means resuming once or to start again after a break. Dear (name of the landlord), This letter is being written to request you to extend the tenancy for one more year. , a fixed-term lease or a month-to-month lease. Historically, some leaseholders have. June 9, 2023 June 1, 2022. As experienced leasehold solicitors, our team of lease extension lawyers can help you through the entire process of extending your lease. They can be contributed by sending to editor@armywriter. It can apply to either commercial or residential property. The formal extension includes a revised mileage agreement and monthly rental fees charged based on the expected vehicle depreciation. Land Registry fees. A lease is a statutory document, so ampere hire extension letter request ought be worked with the same step of importance. The costs linked to drafting and serving a Section 42 Notice varies with different solicitors. Informal letter enquiring about lease extension of a flat, or to purchase the freehold of a house or flat [Landlord’s name] [Landlord’s address] [Landlord’s address] [Landlord’s. often for 99 or 125 year lease. Leaseholders have a legal right for a lease extension of an additional 90. 6 / 5 Based on 1899 reviews. S. How to Write Informal Letters: A Step-by-Step Guide; How to Write Formal Letters: A Step-by-Step Guide; 10 Tips for Effective Letter Writing;Request Extension away Advice in Vacate. The agreed terms usually differ in that the number of added years is less (than +90) and commonly the ground rent remains, or even increases. The duration of the lease will be 2 years. Date the tenant must vacate property if they do not agree to increase. I want to complete a lease extension. PDF . To book an appointment, please call 020 8840 6640 or email solicitor@starckuberoi. ( 2) Lease term and renewal. To request a lease extension, submit a informal letter containing select the pending item your landlord needs to manufacture adenine deciding. King's speech and lease extensions here. This letter also contains the period of effectivity of the contract of agency between the principal and the agent. 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. Length of the lease extension, including the proposed end date. 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 –. [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. With informal lease extensions, the leaseholder normally approaches the landlord on an informal basis and agrees a premium without serving a statutory notice. Complete uploads through the Compliance Portal (Production) link available on the Online Systems. Amount of the rent increase. We have local RICS surveyors who specialise in lease extension valuations. Go through the letter and understand everything that is contained within it. I propose to pay you the prorated amount of [extension rent amount] for the An informal lease extension is a private agreement between the leaseholder and the freeholder to extend the lease terms. This letter should explain why you need the requested accommodation / modification because of your disability. Government entities, social services firms, and non-profit groups have accessible lease letter templates which you can utilize to negotiate your contract. A lease extension can be both formal or informal. Yours sincerely, John Smith. The late Louie Burns has written on the LKP website about the cheating played by freeholders with informal lease extensions. The letter should insert: Lease Extension Agreement1. The renewal terms or any changes to the terms of the original lease. The term is fixed at the beginning and so decreases in length year by year. This fee will be non-refundable, and they know this. After starting your LOI with a concise statement signifying your intent, you can now add the details to the body of your letter. 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. I am requesting you to extend it before it expires. Note, unlike the example here, most roommates are not also co-tenants on the original lease. A lease non-renewal letter is sent prior to when the lease ends. 0800 098 2770. You can keep your vehicle for a total of five years, including your original contract and formal extension. RE: Lease Extension. I would respectfully request that you not raise my rent of AMOUNT for the term of the. Lease Renewal Reminder Letter – Sample Letter to Landlord for Lease Renewal Reminder. She provides advice on contacting a free, instructions into write an extension enquiry furthermore what to look out for in the terms on extension. Reasons for extension; Dates by which you need a determination, mostly 10 days to two weeks; Putting your request in writing plus keeps ampere take shall any issues arise while the extension period. Tenancy Services - Doing changes to an tenancy agreement. Osbornes Law’s lease extension calculator suggests a property worth £450,000. Place both pieces of information on the left. The format of the acknowledgment letter for project must include the name and address of the sender. The lease expires on DATE and I would like to renew it until DATE. Due to unforeseen circumstances, I have been some obstacles that have delayed my progress on the project. For informal applications received after 1 September 2021, we'll extend your lease where possible to a new 990-year term. Whilst negotiating an informal lease extension, the freeholder may attempt to increase ground rent or introduce additional charges as part of the agreement. Once a tenant’s lease lives coming toward an end a lease extension letter can be sent by whether this tenant button an landlord to request that steps become caught to renew the lease. Dear Name of Landlord: This letter is a formal request to renew the lease on the property at the above address for another year. How to make an signature for the Voucher Extension Letter Form on iOS devices. There are two ways to extend the lease on your property – using the statutory process or making informal arrangements. You will often see lease extension agreements extend to a month-to-month basis. Add the co-tenants’ names. Download a template informal letter enquiring about lease extension of a flat, or to purchase the freehold of a house or flat. The particular amount of time that a lease is granted for is known as the ‘term’ and is a diminishing asset – losing value over time as the length of the term decreases. 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. 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. Usually Section 42 notices are not required, although sometimes a landlord will request one to initiate the agreement. 2309 Celina, TX 23000. Follow these steps to compose a letter that conveys your appreciation and commitment: Address the Employer: Begin your letter by addressing your employer or the relevant contact person. Send your written request and support 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. The renewal terms or any changes to the terms of the original lease. The lease agreement should be reviewed to see if there are any additional or specific requirements for requesting for an extension or renewal. Address and date are the headers of most business letters. Other terms may also change when a contract is extended (such as pricing). Increasing Rent When Renewing a Month-to-Month Lease. as textiles. Leaseholders can sell their leases provided they comply with any provisions contained in the lease. So it is common practice for most leaseholders to extend their lease before it falls below 80 years. At about 60 years, the cost of extending the lease increases by about 1% of the value of the property each year – i. However, some rental agreements require more or less notification, so always check your lease. Renewal of Insurance Policy: To negotiate new terms and an extension for insurance. 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. e. This includes prospective. , 6-12 months. Timing is everything. Step 1: Reading your rental agreement. The relocation letter to your employee should highlight the exact reason you are requesting that they move to a new location. Informal Route; 3. These are just estimates and can vary wildly – they are not a substitute for valuation advice. You get a 90 year extension of the existing lease term. However many websites / articles caution against “agreed lease extensions” where you have negotiated with the Landlord and not gone through the statutory. This is the statutory lease extension allowance, but there may be occasions where the term can be less, and this will be dependent on whether we own the freehold of your home. If you are unable to schedule an inspection online, please call 800-727-7000 (8:00 am to 8:00 pm EST, Mon-Fri)the date on which you must pay the ground rent or, if the demand is sent after the due date, the date when it would have been due under the terms of the lease. There is a slight difference in meaning. often for 99 or 125 year lease. When you’re writing a lease renewal letter, you should include: The names and contact information for the landlord and tenant. Extension Forms (Lease Renewal Forms). Request Letter for Extension of Agreement – Sample Letter for Rent Agreement Extension. 2. Furthermore, you would only be getting a 29 year extension when you could be entitled to a 160 year lease & not pay any ground rent. • 6-9 month process minimum probably more like a year (or possibly more) in Central London. A lease is a legal document, so a lease extension note request should remain treated with the same rank of importance. Caliph, Mrs. RE: Lease Extension. 3. The landlord can then choose to accept this offer or respond with a Counter-Notice and their own asking price. Dear citizens of Noble Road, We are writing to notify you that the filming of a major motion picture entitled “The Holy Devil” will be taking place on the property located at 23, Noble Road, and the sidewalk immediately outside the house. That can be done at any time. The letter should include: Your name, actual meet and ask information Writing a letter requesting an extension of time involves clear communication, a valid justification, and a demonstration of professionalism. You can extend the lease on a shared ownership property. 4. Employee Acknowledgement Letters. Carefully assess your situation, seek professional guidance, and choose the best option that aligns with your long-term. Step 1: Write the lease renewal letter. This lease termination letter will include the specifics of when and why it is necessary to end the agreement. Call to get a quote 0333 344. Jul 21, 2021.