A lease extension addendum is a legal document that extends the term of an existing lease agreement. It is used when a landlord and tenant agree to continue the lease beyond the original end date. Lease extension addendums are common for a variety of reasons, such as:
- The tenant wants to stay in the property for longer
- The landlord wants to keep a good tenant
- The landlord is planning to sell the property and wants to give the tenant a chance to buy it
Benefits of Using a Lease Extension Addendum Template
There are several benefits to using a lease extension addendum template, including:
- It can help to ensure that the lease extension addendum is comprehensive and includes all of the necessary information.
- It can save time and effort on the part of the landlord and tenant.
- It can help to avoid disputes between the landlord and tenant in the future.
How to Use the Free Lease Extension Addendum Template
To use the free lease extension addendum template, simply download the template, fill in the required information, and print and sign it. Both the landlord and tenant should sign the lease extension addendum.
Here are some tips for using the lease extension addendum template:
- Be sure to include all of the relevant information in the lease extension addendum, such as the names of the landlord and tenant, the property address, the original lease date, and the new lease end date.
- State the specific changes that are being made to the original lease, such as any changes to the rent amount or payment schedule.
- Use clear and concise language.
- Keep a copy of the lease extension addendum for your records.
Download the Free Lease Extension Addendum Template
To download the free lease extension addendum template, simply click on the following links:
Word: [Download Lease Extension Addendum Template in Word]
PDF: [Download Lease Extension Addendum Template in PDF]
In addition to the information listed above, the following are some additional things to keep in mind when using a lease extension addendum template:
- Be sure to comply with all applicable state and local laws when using a lease extension addendum.
- If you have any questions about how to use the lease extension addendum template, you should consult with an attorney.
Here are some additional tips for using a lease extension addendum:
- Be specific when describing the changes that are being made to the original lease. Avoid using vague or ambiguous language.
- Have both the landlord and tenant sign the lease extension addendum. This will help to ensure that both parties are aware of and agree to the changes.
- Keep a copy of the lease extension addendum for your records. This will be helpful if any disputes arise in the future.
A lease extension addendum is a valuable tool for landlords and tenants to extend the term of an existing lease agreement. The free lease extension addendum template is a good starting point for creating a comprehensive and legally binding lease extension addendum. However, it is important to note that the template is just a starting point, and you may need to modify it to meet your specific needs.