The Lease Extension Agreement is utilized when both landlord and tenant wish to continue their existing lease relationship beyond the original term. This document type is commonly used across the United States in both residential and commercial contexts, providing a more streamlined alternative to creating an entirely new lease agreement. The agreement typically includes the extension period, any rent adjustments, and confirmation of which original lease terms remain in effect. It must comply with relevant state landlord-tenant laws and federal regulations, particularly regarding fair housing and discrimination. A Lease Extension Agreement is particularly valuable when parties want to maintain their existing relationship while making minimal changes to their original arrangement, offering both parties security and continuity while avoiding the complexity of negotiating an entirely new lease.
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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 agreement including 'Original Lease', 'Extension Term', 'Extended Termination Date'
4. Extension Term: Specific duration of the lease extension and new termination date
5. Rent: Rent amount and payment terms during extension period
6. Original Lease Terms: Confirmation of which original lease terms remain in effect
7. Execution: Signature blocks and date for all parties
1. Modified Terms: Any modifications to original lease terms that will apply during the extension period
2. Security Deposit: Updates to security deposit terms if any changes are being made
3. Property Improvements: Details of any agreed improvements or modifications to the property during extension period
4. Lead-Based Paint Disclosure: Required for residential properties built before 1978
1. Schedule A - Original Lease: Copy of the original lease agreement being extended
2. Schedule B - Property Description: Detailed description of the leased property including address and any included fixtures/fittings
3. Schedule C - Rent Schedule: Detailed breakdown of rent payments if varying during extension period
4. Schedule D - Condition Report: Current condition of property at time of extension
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