What is a Lease Addendum
Purpose of Lease Addendum
The main purpose of lease addendum is to add conditions and rules to a certain lease agreement without the presence of renegotiation. The process is quite simple since all you have to do is to add the missed content that is stated in original agreement.
Contents of Lease Addendum
The common contents of lease addendum includes the both names of the parties, the date when the lease addendum is being prepared, the original date for the lease contract and a comprehensive explanation for additional stipulations. A lease addendum must be legally signed by both parties to make sure that it is legal and accurate.
Benefits of Lease Addendum
A lease addendum has the ability to provide the both parties with negotiated changes and documentation. In this way, it can eliminate the verbal agreements, misunderstanding concerns and lease. It is very important that you know some of the valuable benefits of lease addendum to make sure that you will come up with a desirable result. However, a lease addendum is just valid for a duration that is associated with original contract lease addendum.
A lease addendum can also be defined as rental agreement between tenants and landlord wherein, it states all the expectations and rules about your rental period. Most of the landlords decided to add lease addendum to their tenants in order to meet their certain needs. For example, if a certain landlord only permits smoking outside the premises, this kind of rule must be included in the lease addendum.
As a tenant, you need to agree with the lease addendum by simply initialing the section in the lease addendum. A lease addendum can also be written however, writing a lease addendum requires better understanding in order to protect the rights of tenants and landlord. As a landlord, you can write a lease addendum to your tenants in order for them to be aware about the rules and regulations that you want to be implemented within your property premises.
In this way, they will have a better understanding and confusion and misunderstanding will be avoided. If you are a tenant, make sure that you will have your own copy of the lease addendum and the most important thing is you fully signed the lease addendum. A lease addendum is very common in the country of United States and this kind of agreement is protected by the law. Just like a landlord, a tenant also has their own rights that they need to know and be aware of. If you want to gather additional information about the lease addendum, just simply browse the web and rest assured that you will find a wide variety of lease addendum samples that you are looking for.
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