Common use of Renewal, Extension Clause in Contracts

Renewal, Extension. Either Party may terminate this lease at the end of the term by giving the other party 30 days written notice prior to the end of the term. If neither party gives notice of termination, the Lease will automatically be extended on a month- to-month basis with all terms remaining the same until a Lease Extension can been executed. A thirty (30) days written notice is required for termination by either party while on a month-to-month status. The Landlord reserves the right to increase the amount of rent following the end of the term and upon delivery of written notice to the Tenant thirty (30) days prior to the effective date of any increase.

Appears in 2 contracts

Sources: Residential Lease, Property Management Agreement