The Lease Extension Amendment is essential when parties wish to continue their landlord-tenant relationship beyond the original lease term in Singapore. This document is commonly used when both parties are satisfied with their existing arrangement and prefer to extend rather than create a new lease. The amendment must comply with Singapore's property laws and typically includes the extension period, any rent adjustments, and confirmation of continuing terms. It should be properly executed and may require registration with relevant authorities depending on the lease duration and property type.
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Key Requirements PROMPT example:
Lease Extension Amendment
"I need a Lease Extension Amendment for our office space in Singapore CBD, extending the current lease for another 3 years from March 2025, with a 5% increase in monthly rent and all other terms remaining the same."
1. Parties: Identification of landlord and tenant with full legal names and addresses
2. Background: Reference to original lease and reason for extension
3. Definitions: Key terms used in the amendment including reference to original lease definitions
4. Extension Terms: Specific details of the lease extension including new termination date
5. Rent and Payment Terms: Updated rent amount and payment schedule if applicable
6. Effect on Original Lease: Confirmation that all other terms remain unchanged
7. Execution: Signature blocks and execution requirements
1. Modified Terms: Any changes to original lease terms beyond the extension - used when original lease terms need modification alongside extension
2. Option to Renew: Terms for further extensions - included when parties want to specify future extension possibilities
3. Property Improvements: Terms regarding any agreed renovations or improvements - used when extension includes agreement for property modifications
1. Original Lease: Copy of the original lease agreement
2. Property Details: Updated property description and floor plans if changed
3. Rent Schedule: Detailed breakdown of rent payments if modified
4. Condition Report: Current condition of property if relevant to extension terms
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