|Dear Sir, |
As you are well aware, the lease of the above premises in our possession expires on 31st August as per the terms and conditions of the lease and rent-agreement. As we want to continue our business from this place, we request you to extend the lease for further period of 7 years with effect from 1st September at the same terms and conditions.
In view of the higher maintenance cost, rise in prices and increased rates of taxes on commercial property, we are ready to increase the present rent by 35% which, I hope, would satisfy you.
We look forward to your early reply and action in the matter so that a new lease agreement can be executed in time before the expiry of the present one.