A rental property lease extension is a kind of a lease extension that is specifically made for the rental property which was previously leased by a lessee from the owner or the lessor. These extension documents are used to specify in detail all the terms and conditions on which the rental property lease is being extended and also the details of the rental property such as its address, area etc. Given below is a sample of a rental property lease extension that can be used by any person for reference.
Sample Rental Property Lease Extension:
This rental property lease extension is being made by and between the LESSOR and the LESSEE wherein the LESSOR has the ownership right over the rental property and the LESSEE agrees pay rent for the property for an extended period of time.
Commencement date of extension: 1st June 2012
Termination date of extension: 1st June 2013
The details of the parties:
Name: Paul Newmann
Residential Address: A-68, Marks Street, Paulo tower, CA
Name: David Hussey
Address: A-45, friend’s colony, CA
The details of the rental property:
Address: S-4, Jack Street, Jane square, CA
Description: Large piece of land located in a clean and populated area
Details of lease payment:
Lease per month: $400
Total lease amount: $4800
Terms and conditions of rental property lease extension:
- The LESSOR and LESSEE agree to extend the lease on mutual agreement basis.
- The LESSEE shall continue to pay the rental payments every month on the 7th day.
- The LESSEE shall only use the property for strictly official purpose.
- The LESSOR holds the right to inspect the property but only after giving prior notice to the LESSEE.
- The LESSEE and LESSOR must continue to abide by all the terms and conditions mentioned in the original lease document.