A lease extension agreement is a document which outlines the new terms and conditions that will govern a lease extension. Such a document must outline the reasons for the extension of the lease, the date to which the lease has been extended, the revised rates of payment and the added clauses in order to create a watertight lease extension agreement. A lease extension agreement is a legal document and hence it must be framed correctly.
Sample Lease Extension Agreement
The following document is an extension of the lease agreement initially effected between Samuel Harding of 56 Cornwallis Street, London [henceforth referred to as the lessor] and Dina Thomas of 45 Herefordshire Lane [henceforth referred to as the lessee]. The apartment lease was initiated on 2nd June 2011 and was due for termination on 2nd June 2012. However, the lease agreement is to be extended to 2nd June 2013, with revised rates.
The lessee shall be expected to pay a monthly rental of 200USD from the month of July 2012, as opposed to the 150USD she was required to pay till June 2012. The security deposit which was initially handed over will be repaid in full after the lessee hands over the apartment to the satisfaction of the lessor in June 2013. All terms and conditions which governed the lease agreement before still stand [check overleaf for the exact details]. The participants are requested to carefully read and understand the terms and conditions as they pertain to the revised lease agreement.
Signature of lessor: __________________________________
Signature of lessee: __________________________________