How to Write a Lease Extension Addendum
Here's what you need to have on this addendum.
When are you creating the document?
Put the specific date that you're agreeing to the lease extension. This is the day that you're creating the document. It is not the date that you get your tenant to sign the document.
Who is entering into the agreement?
Make sure to put all parties from the original lease onto this document. If there is someone who has been excluded from the addendum who was on the initial lease and they aren't a minor, then their part of the agreement will transition to a month-to-month arrangement with you in many instances. This includes married couples – include both names.
Where is the property located?
You must include the specific and full address of the property that is being rented for your lease extension addendum to be valid. You may wish to even include the parcel number or other government property identification features to make sure there is no question whatsoever about the property that is being rented.
How long is the lease extension in place?
How long do you wish to extend the initial agreement of the lease? You'll need to put in the specific dates and make sure there isn't a gap between the end of the initial lease and the extension. If you don't receive a rental payment and the lease expires, it some state's this gives the tenant the right to terminate the lease because it has expired. If there is a date gap and you do accept a month of rent from the tenant, then you'll have transitioned to a month-to-month arrangement and this lease extension addendum will then take you back to the original document once it is signed.
What legal language do you need to include?
Your lease extension addendum must include language that states the tenants and the property owner, along with their representatives, must come back to the terms of the original lease and that the entire agreement between both parties remains in effect for the period of time listed on the extension.
Once you've filled out the information on your addendum, you must get all parties to sign the addendum for it to be valid. Even with married couples, if one person signs the document and the other does not, the addendum will not be valid for the unsigned spouse. Make sure you've signed the document as well. You may wish to have an appointment with your tenant with a public notary to add another level of security to this document as well, although most of the time an addendum isn't going to be awarded to a problem tenant.
That's really all you need to do to extend a lease. It's a simple way to give you income security and your tenant a secure place to live for another period of time.
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