A lease or lease is an important legal document to complete before a lessor leases real estate to a tenant. Although the two agreements are similar in nature, they are not identical and it is important to understand the differences. Next, you need to check the references indicated by the tenant in his rental application form mentioned in step 2 above. You can continue to support your original lease by modifying the terms with a lease amendment. In addition, you can terminate an existing lease agreement with a termination letter or extend a lease for a different term with a lease extension. A lessor is not required to renew the terms of the old lease and is free to change the terms and amounts of the lease upon request. .