The key difference between tenancy renewal and extension lies in the resulting agreement:
Tenancy Renewal:
Creates a completely new lease agreement.
Might involve changes to terms like rent, duration, or even clauses within the agreement.
Requires signing a new Tenancy Agreement (TA).
Tenancy Extension:
Extends the existing lease agreement.
Keeps all terms and conditions from the original TA unchanged.
May be done through a simpler amendment to the existing TA, specifying the extended duration.
Here's a table summarizing the key differences:
Feature Tenancy Renewal Tenancy Extension
Creates New Agreement Yes No
Changes Terms Potentially No
Requires New TA Yes Potentially (amendment)
drive_spreadsheet
Export to Sheets
Choosing Between Renewal and Extension:
Landlord's Perspective: If you (as the landlord) want to adjust rent, terms, or add new clauses, a renewal is the way to go.
Tenant's Perspective: If you (as the tenant) are happy with the current terms and just want to stay longer, an extension might be sufficient.
Remember:
It's always best to discuss your preferences with the other party before deciding on renewal or extension.
Always have a written document (new TA or amendment) to avoid any misunderstandings in the future.
------------------
"If you need more assistance with property matters:
like renting / selling, buying / or investing, I'm here to help!
WhatsApp me at >>9856 9255 or through this link.:https://wa.me/6598569255.
(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )
You can check out my reviews here:
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.
For buyers, I offer solutions for sourcing resale and new private homes at no charge.
I can connect you with reputable bankers for private housing loans free of charge and with no obligation.
I also have partners to assist with mortgage home insurance matters.
Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份) :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!
*** You can reach me at my Singapore mobile: (+65)>>9856 9255>> or email me at Able.selling@gmail.com.
From: ABLE Toh- Your Property ASSISTANT :)
“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”
XXXXX The End XXXXXXX
Read More