The Real Estate Encyclopedia
What is a renewal term?
Category - Home Ownership Questions - Lease & Renting FAQ's
Typically, most lease agreements include wording to the effect that either the tenant or landlord may terminate the lease at the end of the term of the agreement by giving the other party 30 days written notice prior to the end of the term. If neither party gives notice, the lease is automatically renewed on a month-to-month basis with all the terms of the agreement remaining the same.
 
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Home Ownership Questions - Lease & Renting FAQ's
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