Document background
The Lease Extension Agreement is utilized when parties to an existing lease wish to continue their landlord-tenant relationship beyond the original term. This document is particularly important in the Austrian legal context, where specific requirements under the Mietrechtsgesetz (MRG) and ABGB must be met for a valid extension. It typically includes reference to the original lease, specifies the new term duration, addresses any rent adjustments, and confirms which original terms remain in effect. The agreement may be used for both residential and commercial properties, requiring careful consideration of mandatory provisions under Austrian tenancy law. The Lease Extension Agreement serves as a crucial tool for maintaining legal certainty while avoiding the need to draft an entirely new lease agreement.
