Sample Lease Extension Agreement

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Document Overview

A Lease Extension Agreement is a legal document that lengthens the term of an existing lease, allowing a tenant to continue occupying the leased premises beyond the original lease expiry date without the need for a completely new lease.

Key Components of a Lease Extension Agreement
1. Parties – Identification of the landlord and tenant (individuals or companies).
2. Reference to Original Lease – Date of the original lease and description of the premises.
3. Extension of Term – New commencement and expiry dates of the lease.
4. Rent
5. Security Deposit – Whether the existing deposit continues, is refunded, or is adjusted.
6. Continuation of Terms – Confirmation that all terms of the original lease remain in force except as modified.
7. Improvements/Condition of Premises – Whether any repairs or upgrades are required before the extension begins.
8. Governing Law
9. Signatures – Execution by landlord, tenant, and witnesses.

Purpose of a Lease Extension Agreement
1. Ensures the tenant can remain in the property legally after the original lease expires.
2. Provides the landlord with continued rental income and the tenant with uninterrupted business or residential occupancy.
3. Allows parties to renegotiate only certain terms (like rent or deposit) without rewriting the entire lease.
4. Saves time and legal fees compared to drafting a brand-new lease.
5. Clearly documents the extended arrangement, preventing disputes over occupancy rights.

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Sample Lease Extension Agreement

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