e. Currently, the lease is set to expire on [date]. Landlords or Property Managers, Housing Choice Voucher (HCV) Program, Project Based Vouchers (PBV), Instructions / Guides. Dear Mr Mahajan, This letter is a formal request to renew the lease on the property at the above address for another three years. This letter serves as one informal. Cloned 18,760. 3. If you have. This notice is more informal than an eviction. Renewal of license: To extend a licensing agreement. 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. Standard. This agreement will tie you into an agreed period past your contract end date, normally for either 6, 9 or 12-months. Formal Lease Extension AdvantagesThe informal lease extension process. The Tenant and Landlord have agreed mutually to extend the term of the lease for [Time Period]. Step 3 – Use an RICS surveyor who has experience in leasehold extension legislation and. To: k. This agreement is valid for a period of [Number] [Years/Months] starting from [Date] and ending. A lease extension can be both formal or informal. Step 3: Draft the Letter Address the tenant formally. Instead, where a deed attempts either to: vary the length of a registered lease by. For request a lease line, submit a formal letter containing all the pertinent details get landlord needs to induce a decision. 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. Peter Barry’s Chartered Surveyors are very experienced in both informal and formal lease extensions, and cover the London M25 area from 6 strategically located offices. Thank you once again for your generosity. How to write an informal lease extension enquiry letter. Amount of the rent increase. Template 11 - Letter to court asking for case to be transferred to First-tier Tribunal Read More . the freeholder has 'informally' offered a price for a lease extension to 125 years with a £150 ground rent. Because of my previous good rental record, I hope you will allow this first-time extension for me. Yours sincerely, John Smith. Make them informal because this is a person known to you. 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. A lease is a legal document, so a lease extension newsletter request should be treated with the similar level of importance. Updated August 30, 2023. Size: 43 kB. The formal extension includes a revised mileage agreement and monthly rental fees charged based on the expected vehicle depreciation. 2309 Celina, TX 23000. This is the advised and most common route (as it's safer than an informal extension). Reference to contract or rental agreement. This must be paid within 14 days. 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. 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. The lease term, or period of time the rental contract is in force. . A lease is a legally enforceable contract that allows the owner of real estate or personal property (e. Estimated for a flat worth £200,000 once the lease is extended, with £100 ground rent rising by £100 for each 33. Download. Contract Extension Letter: 4 Templates. TEMPLATE DOCUMENT. An informal lease extension can be considerably quicker than the statutory route. Provide a valid reason for the request, such as unexpected. I would like to amend that date to end on [new date]. A review of our current rental records shows that your lease will expire on DATE for the unit located at 9090 Old Church Way. 1. These documents can be helpful in your process of drafting a lease extension letter, but there are nuances to the different kinds of lease extensions. I would. Our specialist Leasehold Property Team is one of the largest in the region and are happy to discuss any of the issues outlined in this article. 2. With an informal lease extension, the leaseholder and freeholder can agree on a premium, length of extension and the terms of the extended lease between them. 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. Provide a Reason. I propose to pay you the prorated amount of [extension rent amount] for theInclude your signature and complete name. 39. Both parties are able to make amendments to the lease with the right amount of written notice. The term is fixed at the beginning and so decreases in length year by year. Length of the lease extension, including the proposed end date. Employee Acknowledgement Letters. A Formal Extension is a formal agreement between yourself and the finance company. Effectively what you are buying is the benefit of the lease contract rather than outright ownership of the property. Read More. A 30-day notice to vacate letter is common for many leases. To request adenine lease extension, submit one informal zuschriften containing all the pertinent details your landlord inevitably to make a decision. When writing a rent increase letter, be sure to include:. However many websites / articles caution against “agreed lease extensions” where you have negotiated with the Landlord and not gone through the statutory. However, more importantly, an expensive and time-consuming application to the Tribunal is not required. Leasehold Renewal Process. often for 99 or 125 year lease. S. The Formal Process (serving a notice) – what are the pros and cons of the ‘process’ itself. The property owner cannot rescreen you as a condition to sign this lease, as you have a right toA lease is a legal document, so a league enlargement schrift request should become treated with the similar level of importance. 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. If you haven't you will have to follow the informal process with rules set by your individual housing association, so you may want to staircase first. 2. Note: For fixed term leases in North Carolina (i. Free. Aforementioned letter supposed include:ONE lease is a legal register, therefore a lease expansion letter request must be dealt with the same level to importance. The formal route. If the tenant fails to give the required notice, the landlord may be able to evict the tenant. A statutory lease extension. 9k views [Recipient’s Name] [Recipient’s Address] [City, State ZIP Code] Sweetheart [Recipient’s Name], I am writing to getting an extension on the [Project Name], which be due on [Due Date]. Using the sample lease extension letter the landlords while a template fork your informal announcement. These documents can be helpful in your process of drafting a lease extension letter, but there are nuances to the different kinds of lease extensions. Depending on your level of friendship, you may choose to use the word dear or another type of greeting. The address of the rental property and unit number, if applicable. Under this route, a leaseholder can approach the freeholder in the first instance and ask whether they are interested in selling them the freehold. State that you are writing the letter asking for an extension of leave. The alternative is to simply ask your landlord for a lease extension informally. 6 KB PDF) are for a specific term, for example 12 months, and include the date the tenancy ends. 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. No such eligibility criteria apply for informal lease extensions. 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. 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. King Charles III opened Parliament and stated that the government will bring forward a proposed Bill to make lease extensions easier and cheaper. There’s no “perfect” way to draft a rent increase letter, but it typically contains the following details: Date of the rent increase letter. 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. You can extend the lease on a shared ownership property. The terms will include ground rent of £100 per annum (to double every 25 years). 3. 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. Once signed, the agreement is considered. Template 1 - Letter to landlord asking for insurance summary. Once the lease falls below 80 years, the landlord is entitled to receive 50% of the increase in property value when an extension iss granted; this “Marriage Value” is what makes it. Lease renewal agreements help. 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. • You will be required to pay your freeholder’s reasonable legal and surveyor costs, as well as the legal and valuation costs of your own surveyor. The lease extension will grant you the additional 90 years on top of the unexpired. Dear [Landlord's Name], Please accept this letter as a formal request for an extension to the lease for [Property Address]. This applies where the customer has owned 100% of the leasehold interest in the property for at least 2 years. DATE. Sub: Employment Contract Extension. This letter should explain why you need the requested accommodation / modification because of your disability. Put it in typing. [Name, Company Name & Address here] [Date] Dear [name], First of all, I would like to thank you for your services to our company. Thank you for your recent communication requesting an extension of time to make your payment which is due on (dd/mm/yyyy). The terms can renew each month if both the tenant or the landlord agree to keep it in place. I presently have (insert number of years) left on my lease. This will usually be for 99 or 125 years and the flat can be bought and sold during that term. He will have the option to keep on leasing on a month-to-month basis, every 6 months, or every year. Statutory lease extension. Download: PDF | Word. Lease Extension Valuation Using a Qualified Valuer – £500 to £1000. won’t allow the freeholder to introduce new fees or charges into your lease. As an outright leaseholder, you have two options to extend your lease: Option 1: Proceed ‘formally’ in accordance with the procedure laid down in the Leasehold Reform, Housing. The actual time it takes to extend your. He joined the group under the made-up name Jamie Kendrick, presumably a witticism referencing Katie Kendrick, the co-founder of the National Leasehold Campaign and a trustee of LKP, along with the other two NLC co. We have created a template letter that you can send to your freeholder to enquire about an informal lease extension. Date the Increase takes effect. Landlords or Property Managers. Include your full choose and any relevant employment title or affiliation. Our rent increase notice template can help you put together a notice for your tenants that’s easy to understand. Renewal of Passport: To request for a new passport. co. Step 1: Review the Original Lease Check the original lease terms and conditions. However, if the judicial. Most share of freehold property owners will extend their lease by way of an informal lease extension, which means they will agree on the length, premium and terms of their lease extension with the other freeholders. Date the rent increase will go into effect. Depending on the customs of a local real estate market, a lease non-renewal letter may also be known as a lease termination letter, a notice not to renew a lease, notice/intent to vacate, or non-renewal of lease letter. 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. Subject: Request for an extension of loan payments. Online ID Fee Per Person – £8. The renewal terms or any changes to the terms of the original lease. The agreement is in effect after you and the tenant sign the lease extension. Remember to be respectful, concise, and appreciative in. A North Carolina month-to-month lease agreement is a contract (written or oral) that allows a tenant to rent property from a landlord, in exchange for a fee (“rent”), for a period of thirty days at a time. ( i) The lease shall have a twelve month term. For LOIs involving property, include the details of the property itself such as size, price, etc. RE: Lease Extension. However, for leases above 130 years, any extra years will not add. ADENINE lease is a legal document, like a lease extension letter request should must treated at the same grade of importance. After two years of ownership, you have the right to extend your lease using the ‘formal’ statutory lease extension procedure. Look for Customizable Templates. 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]. This is sent at the end of the lease period and should include instructions on where to send the security deposit. Make sure to include the reason and the duration of the extension. My daughter is extending her lease at the moment. A lease will adenine judicial register, therefore a engage extension letter request supposed be treated including an just level of significance. Use their proper title and name if known. Terminate the letter with a polite and professional sign-off. Informal Extension is a short-term solution designed to help. Close with a polite and professional sign-off. 4. Whether financial problems are due to losing your job due to the coronavirus outbreak or having unexpected medical bills from an accident, cheaper rent could give you some much-needed relief. Formal Lease Extension Advantages The informal lease extension process. To request adenine lease extension, submit a formal letter containing all aforementioned pertinent details your rental requests to make a decision. £150-£220 per hour. After starting your LOI with a concise statement signifying your intent, you can now add the details to the body of your letter. Revise it in your preferred online or offline editor, fill it out, sign it, and print it. Rent can't be increased during a fixed term agreement unless a. What does the letter of extension for a lease mean? What is the procedure for composing a formal letter to your landlord? Download and use this template to write a letter to the. To request a lease extension, submit a formal letter features all that applicable details get landlord requirements to make a decision. if the property is worth £250,000, the bill for extending the lease will go up about £2,500 a year. With an informal extension, the leasing company extends the lease for a relatively short term — typically six months or less — without a new lease agreement and with the same payment schedule as in your original contract. Benefit of the formal route is that it wipes out your ground rent and adds 90 years to the lease. You can write phrases like ‘Hello Samaira’ or ‘Sir/Ma’am’ as salutations. How to extend a lease; 6. Give your rental something in backIf possibility, submit your lease extension letter 30-60 days for your leases end date. 5% and 10% respectively. Pay L&Q’s solicitor’s fees via your solicitor (£640, variable) Non-Statutory Lease Extension. 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. co. Insert the date of execution for the Room Rental Agreement. Begin the email by expressing your appreciation for the current lease and mention your desire to extend the tenancy. Attach any documents or evidence you may need to support your request. 4. However, in reality most lease extensions go through at some point fairly soon after the formal process has started. Formal lease extension For a formal lease extension, on the other hand, you have to sign a change to the lease. Leaseholder’s Solicitors Fee – £500 to £800. Dear Name of Landlord: This letter is a formal request to renew the lease on the property at the above address for another year. . 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. com or by pasting into the form below. 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. Re: Lease Expiration and Renewal for _____ Dear: It is a pleasure having you as a tenant and we hope you are enjoying your home. W. Simply fill out our online contact form, send us an e-mail via contact@theleaseextensioncompany. receive a Lease Extension Offer with confirmation of the premium payable for a new 125 year lease. 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. Step 2: Decide on. Dear Name of Landlord: This letter is a formal request to renew the lease on the property at the above address for another year. Property address. You should then refer to the original leave already granted to you. This includes instructing the valuation to establish the premium and the legal process. Generally, it is not necessary to send a demand letter before beginning judicial proceedings to recover possession of the property. 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. Less complex informal entries usually may be filed for shipments valued at $2000 or less (or at $250 or less for shipments containing the aforementioned trade sensitive articles). 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. 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]. Rental and Lease Agreement Templates. 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. Follow these steps to craft a convincing and considerate message: Address the Relevant Party: Begin your letter by addressing the appropriate individual or department. • disadvantage Landlord – has to wait for money and has to put up with valuation date from. ( 2) Lease term and renewal. 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. I have the actual Surrender and Regrant/Lease of Whole from the Land registry. Use the guide and template provided to effectively convey your request, enhancing your chances of receiving a favorable response. I appreciate your prompt response. Date the letter was written. While informal lease extensions offer simplicity and cost savings, they come with risks and uncertainties. These follow the standard membership renewal letter format. Mumbai, India. S. Here he turns his attention to the minefield of dealing with your freeholder to get a formal lease extension. Address and date are the headers of most business letters. Here are some estimated costs to assist you in your conveyancing budget. They will then serve a Section 42 Notice upon the. A engage is a legal document, then a lease extension letter request should be tested with an just level of importance. Financial trouble. 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. A Georgia 60 Day Notice to Vacate is lease termination letter written to terminate a month-to-month lease. Hannah Faith, Leasehold Immobilien Paralegal at Frettens, watch at the Informal Lease Extension anreise. Download a template informal letter enquiring about lease extension of a flat, or to purchase the freehold of a house or flat. The lease on my premise expires on the 31st of March 2012, and I would like to renew it until 31st March, 2015. March 2016. 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. For an informal extension, the company must agree to it. • It is almost always necessary to instruct a solicitor to draft and serve the section 42 notice and negotiate the premium. It is good practice to have this money readily available or even send it to your solicitor upon service of the s. Request Letter for Extension of Agreement – Sample Letter for Rent Agreement Extension. 00 to £600. However, some rental agreements require more or less notification, so always check your lease. 3. The landlord is going to need some details to justify a lower rent payment, so provide the details. 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. Frank will pay $600/- per month as the rent of the apartment. A 30-Day Notice To Landlord is a document where a tenant notifies the landlord that they will not be renewing the lease. The subject will follow the salutations in your leave extension letter. Our rent increase notice template can help you put together a notice for your tenants that’s easy to understand. The more convincing your reasons for moving are, the more persuasive your cover letter will be to the employee. A lease is a law document, so a lease extension letter requirement should be addressed with the same level starting what. RE: Lease Extension. The type of lease — e. Application for Informal Lease Extension Quotation Flats Address of property Name of Lessee Telephone (day) (evening) Email address Date of application We (the lessee of the above property) requestStatutory lease extensions. 48 Templates. 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. Send the Extension Addendum. You may be willing to agree a joint instruction of one valuer who will provide. 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. 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. 12 July 2020 at 9:06PM. Request a deposit of £250 or 10% of the offered premium, whichever is the greater. 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. Other terms may also change when a contract is extended (such as pricing). Under the informal route, a leaseholder can approach the freeholder in the first instance and ask whether they’re interested in negotiating a lease extension, although there’s no obligation on the freeholder to agree to extend. Re-leasing is formal, and the leasing company should draft a new contract. e. For an informal extension, the company must agree to it. Dear (name of the landlord), This letter is being written to request you to extend the tenancy for one more year. DOC. 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. These are the “informal route” and the “formal” statutory route. Carefully assess your situation, seek professional guidance, and choose the best option that aligns with your long-term. PDF . 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. • You will be required to pay your freeholder’s reasonable legal and surveyor costs, as well as the legal and valuation costs of your own surveyor. TEMPLATE DOCUMENT. This will include the length of the extended term, the premium payable for the lease extension, and any future ground rent payable. Appoint a solicitor, paying advance (£160, variable) and providing valuation and offer letter. Start with a formal salutation (e. If your lease has 83 years left, it's time to really start looking seriously into this. Place both pieces of information on the left. Latest Compliance Form Updates. 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. Timing is everything. Date of Amendment: MM / DD / YYYY. Writing a lease extension letter is an important step in extending the tenancy of a tenant in your property. 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. To request a lease extended, present ampere formal newsletter containing any to appropriate details their rental my to take ampere decision. Are you eligible to use the formal route?An informal route involves approaching the freeholder directly, and negotiating outside the terms of the Act. Lee, I intend to renew your lease dated July 30, 2019, that will end on July, 30 2032. Department of Housing and Urban Development 451 7th Street, S. TEMPLATE DOCUMENT . The letter should include: Writing and date off a formal letter to send by get. Once a lease term falls below 80 years the premium for an extension may increase. Whoever is looking for a house for rent then it is the legal form which will track the record of all the details. State your intention to offer a lease extension. Aug 31, 2021. Grove City, Ohio 43123. Free Spot: Lease Termination Letter 1. Jul 21, 2021. Month-to-Month. signNow has paid close attention to iOS users and developed an application just for them. First, as the sender, type your full name and address aligned to the left side, just as you would when addressing an envelope. Template 3 - Leaseholder's notice to insurer of possible claim. Subject: Letter of Inquiry for Leasing. Why Should You Write. ”. Once you finish writing your lease extension form, send a copy to your tenants for signatures. 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. Our offices are located in Brentford, Ealing, London Belgravia and Canterbury, all within easy reach by public transport. A lease is a legal document, so an lease extension letter send should may processed with the same floor of importance. Length of the lease extension, including the proposed end date. co. With an informal lease extension, once the price has been agreed, your freeholder’s solicitor is likely to charge you upfront for their legal fees. Kindly make provision for the increment. Download. A leaseholder will normally approach the landlord in writing with a request for a lease. The missive must include: Singapore FinTech Association, Singapore Institute of. Contact the freeholder to request a lease 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. Informal lease extensions don’t need to follow the same process. Current rent amount. In consideration for this extension to the term of the lease, the. 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. The property would be worth ~£435k in the current market with a long lease and ground rent is already £10 per annum if that helps at all. Most states. So it is common practice for most leaseholders to extend their lease before it falls below 80 years. First, include the name, designation, and address of the recipient. , 6-12 months. How to write an informal lease extension enquiry. This gives your landlord enough notice so that when they detect the next tenant, they can set their move-in date for when you’ve already left. Statutory Route Lease Extensions; 5. Freeholder valuation. An informal lease extension can sometimes provide a more straightforward and cheaper deal for the leaseholder, but this is not always the case. There are two options when extending a lease: either a formal or informal route. 1. Name of Landlord. Late Payment Letters. Dear Name of Landlord: This letter is a formal request to renew the lease on the property at the above address for another year. 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]. Express gratitude for the. you’re on fixed-term tenancy of 6. Extension of lease agreement form is made between the landlord and the tenant. Date by which you need a decision, usually 10 days to two weeks. Step 4. Informal Letters. If you’re in an informal extension for. A rental agreement must include specific details such as the periodic rent and the responsibilities of each party. A your may want the member up renew an lease because he or she has always paid the rent on time, keep the objekt in good conditioning and has good tenants includes. TEMPLATE DOCUMENT . This will be determined as part of the process. The Leasehold Advisory. Date the lease extension request is submitted. 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). I intend to relocate to a new place after getting an indefinite job transfer. To demand a let extension, submit a informal letter included all the german details your landlord needs to makes a decision. Increasing Rent When Renewing a Month-to-Month Lease. Mr. Updated October 11, 2023. Subject: Lease Extension Letter. Read More. 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. A landlord or tenant may choose not to renew a lease for any reason except for discrimination or retaliation. RE: Lease Extension. as textiles. Put it in writers. extending the lease to 164years [74+90]). For example, “I am on leave for 10 days from [start date] to [end date]”. The lease expires on DATE and I would like to renew it until DATE. 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. Date letter is written. 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. It is essential for your employee to feel motivated about moving to a new location and. [Add this if the premium offered has been derived from an official RICS Valuer's lease extension valuation:] I appointed [name of RICS . On request a lease extension, submit a formal letter incl all the pertinent details your landlord needs to induce a decision. A neighbour in our block completed an informal lease extension. Step 2: Lease-End Inspection. ONE well-written rent increase notice can promote you retain residents. Leaseholders can sell their leases provided they comply with any provisions contained in the lease. Choose your language and complete the prompt. 1. 345 Main St.