Rental Extension Agreement Template

As a renter, it can be difficult to find a place that meets all of your needs and wants. But when you finally find the perfect rental, the last thing you want is for your lease to expire and to have to move out. Fortunately, many landlords offer rental extension agreements that allow you to continue living in your rental past the lease expiration date. If you and your landlord have agreed to extend your lease, it`s important to have a rental extension agreement in place. In this article, we`ll discuss what a rental extension agreement is and provide a template for creating one.

What is a rental extension agreement?

A rental extension agreement is a legal document that extends the lease term of a rental property. Typically, a rental extension agreement is used when a tenant wants to continue renting a property beyond the initial lease term. The agreement outlines the terms and conditions of the extension, including the new lease term, rent amount, and any additional fees or changes that come with the extension. The agreement is signed by both the tenant and the landlord and is legally binding.

Why do you need a rental extension agreement?

A rental extension agreement is essential when you and your landlord have agreed to extend your lease. Without a rental extension agreement, you run the risk of being evicted if your landlord decides not to renew your lease or if they find a new tenant for the property. Additionally, a rental extension agreement ensures that both you and your landlord are on the same page regarding the terms and conditions of the extension. This can help prevent any misunderstandings or disputes down the line.

Creating a rental extension agreement template

When creating a rental extension agreement, it`s important to include certain elements to ensure that the agreement is legally binding and clear for both parties. Below is a template for creating a rental extension agreement:

Rental Extension Agreement

Landlord Name: ____________________________________________________

Tenant Name: _____________________________________________________

Rental Property Address: ____________________________________________

Original Lease Expiration Date: ______________________________________

New Lease Term: __________________________________________________

Rent Amount: ____________________________________________________

Additional Charges/Fees: ___________________________________________

Other Terms and Conditions: ________________________________________

Signatures:

Landlord Signature: ________________________________ Date: ____________

Tenant Signature: _________________________________ Date: ____________

By signing this rental extension agreement, both the landlord and tenant agree to the terms and conditions outlined above. This agreement is legally binding and will remain in effect until the new lease term expires.

Conclusion

Having a rental extension agreement in place can provide peace of mind for both tenants and landlords. By using the template provided above, you can create a legally binding agreement that outlines the terms and conditions of your rental extension. Remember to read the agreement carefully before signing and to keep a copy for your own records. With a rental extension agreement in place, you can continue enjoying your rental property without worrying about lease expiration.