Lease Renewal Agreement
A Lease Renewal Agreement is made between a Landlord and Tenant who wish to renew an existing Lease Agreement with minor changes. Note that all terms, rights and obligations contained in the original Lease Agreement continue to be applicable during the renewal period.
Parties to this document
Landlord: owner of the premises
Tenant: party occupying the premises
When to use this agreement?
- This Agreement is meant for commercial purposes
- When only minor changes are required to renew a Lease. If extensive changes are required, it is preferable to prepare a new lease.
Before completing this form, please determine:
- Names and addresses of the Landlord and Tenant as well as names of any representatives
- Date of original Lease
- Address of property
- Duration of the renewal term
- Renewal term start date
- Current rent
- Rent to be paid during the renewal period
- Whether a security deposit is required or has already been provided under the original Lease
- Whether Tenant should have further options to renew (near the end of the renewal period, the Tenant may choose or not to renew the Lease for a further period of time) and if so:
- number of times Tenant may renew
- rent amount if Tenant exercises these options to renew
- notice period for exercise of such options before the end of the renewal period
- Whether any additional conditions should be included and if so, list of conditions to be included
Specifications of this Lease Renewal Agreement
- Landlord and Tenant can be individuals, registered businesses, corporations or partnerships.
- Attach a copy of the original Lease between the Landlord and the Tenant to Schedule A of this Lease Renewal Agreement
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