Free Real Estate Lease Extension Agreement Creator - Create Online
What is Real Estate Lease Extension Agreement?
Real Estate Lease Extension Agreement An agreement extending the lease of real estate property, specifying extension terms, rent adjustments, and any additional conditions.
Sample template:
REAL ESTATE LEASE EXTENSION AGREEMENT
This Real Estate Lease Extension Agreement (the "Agreement") is entered into as of [Date], by and between JOHN SMITH ("Landlord") and EMILY JOHNSON ("Tenant"), who respectively are the landlord and tenant under that certain Residential Lease Agreement dated [Original Lease Date] (the "Original Lease"), for the premises located at 789 Oak Avenue (the "Premises"). The parties hereby agree to extend and modify the Original Lease as follows:
1. LEASE EXTENSION
1.1. Extension Term
The Original Lease is hereby extended for an additional term of [Extension Term] (the "Extension Term"), commencing on [Start Date] and ending on [End Date] (the "Expiration Date"), unless sooner terminated as provided herein or in the Original Lease.
2. RENT ADJUSTMENT
2.1. Adjusted Rent
Effective as of the commencement of the Extension Term, the monthly rent payable by Tenant to Landlord for the Premises during the Extension Term shall be [Adjusted Rent] per month (the "Adjusted Rent").
2.2. Payment of Adjusted Rent
The Adjusted Rent shall be payable by Tenant to Landlord in advance on the first day of each month during the Extension Term, without demand, setoff, or counterclaim. Any rent for a partial month during the Extension Term shall be prorated based upon a thirty (30) day month.
3. CONTINUATION OF ORIGINAL LEASE TERMS
Except as expressly provided herein, all terms and conditions of the Original Lease, as amended, are hereby incorporated by reference and shall continue in full force and effect during the Extension Term. In the event of any conflict between the terms of this Agreement and the Original Lease, the terms of this Agreement shall govern.
4. NOTICES
All notices, requests, demands, or other communications required or permitted by the terms of this Agreement shall be given in writing and shall be delivered personally, sent by certified or registered mail, postage prepaid, or sent by recognized overnight courier, addressed to the parties at their respective addresses set forth in the Original Lease or to such other address as either party may hereafter notify the other in writing.
5. BINDING EFFECT
This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Tenant may not assign this Agreement without the prior written consent of Landlord, which consent may be granted or withheld in Landlord's sole discretion.
6. GOVERNING LAW
This Agreement, and any claim, controversy, dispute, or other matter relating hereto, whether sounding in contract, tort, or otherwise, shall be governed by and construed in accordance with the laws of the United States and the applicable laws of the State in which the Premises are located, without giving effect to any choice of law or conflict of law rules or provisions that would cause the application of the laws of any other jurisdiction.
7. ENTIRE AGREEMENT
This Agreement contains the entire understanding and agreement of the parties relating to the subject matter hereof and supersedes all prior negotiations, understandings, and agreements between the parties, whether written or oral. This Agreement may not be modified or amended except by an instrument in writing executed by both parties hereto.
8. COUNTERPARTS
This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written above.
LANDLORD: TENANT:
JOHN SMITH EMILY JOHNSON
/s/ John Smith /s/ Emily Johnson
---------------------------------------- -----------------------------
John Smith Emily Johnson
Main Sections of a Real Estate Lease Extension Agreement
In this Real Estate Lease Extension Agreement, you will see the following sections:
- Lease Extension
- Rent Adjustment
- Continuation of Original Lease Terms
- Notices
- Binding Effect
- Governing Law
- Entire Agreement
- Counterparts
About each Section - Analysis and Summary:
- Lease Extension : This section extends the original lease for a specific period, called the "Extension Term." It states the start and end dates of the extension.
- Rent Adjustment : This section outlines the new rent amount (Adjusted Rent) for the Extension Term and how it should be paid. It also explains how to calculate rent for a partial month.
- Continuation of Original Lease Terms : This section states that all terms and conditions from the Original Lease will continue to apply during the Extension Term, except for any changes made in this Lease Extension Agreement.
- Notices : This section explains how any notices, requests, or other communications between the landlord and tenant should be delivered (e.g., in writing, by certified mail, or by courier).
- Binding Effect : This section states that the Lease Extension Agreement is binding on both parties and their successors or assigns. It also mentions that the tenant cannot assign the agreement without the landlord's written consent.
- Governing Law : This section specifies that the Lease Extension Agreement is governed by the laws of the United States and the state where the property is located.
- Entire Agreement : This section clarifies that the Lease Extension Agreement contains the entire understanding between the parties and supersedes any previous agreements or negotiations. It also states that any changes to the agreement must be in writing and signed by both parties.
- Counterparts : This section allows the Lease Extension Agreement to be signed in multiple copies, each considered an original, but all together forming one complete agreement.
Ready to get started?
Create your Real Estate Lease Extension Agreement now