Lease Extension Agreement Form
It is a common practice that property owners lend their property to another person. The person using the property also called as lessee pays rent to the owner also known as lessor. The details of the rent to be paid and the conditions under which property is rented are all mentioned in a legal document.
Apart from property vehicles, machinery and buildings are also leased.Every item is always rented for a specific time period and after that time limit expires the tenant has no longer any authority to use the item or property.
But let’s say if he wants to keep on using the property for a longer period of time e.g. 1 more year, the lease can be extended under specified conditions which were already mentioned in the previous contract. He would apply for an extension in the leave by filling a lease extension form.
Every item put on the lease will have a slight variation in the contract. Yet there are few elements which are common in all lease agreements. These include mentioning:
- Name of the lessor and the lessee
- Date of the validity of the document
- Details of the item leased
- Conditions under which lease can be extended
- The rental payment to be made
- Conditions for using the item
- The item placed as a security deposit
- Conditions under which the security item will be returned
- Clauses which will lead to termination of the agreement
- Signatures of both the landlord and tenant
As it is obvious from the above-mentioned list that constructing a brand new contract from scratch is no piece of cake. It will not only cost you time and energy but also your money.
It seems to be by no means possible that a person never requires the document more than once in his life. So, every time he needs the document for his legal matters he has to create a new one wasting all his time and energy again.
We here provide you with different templates that save you from all this effort. The templates provided by us cover most of the items which have higher chances of being put on a lease.
But if there happens to be something which is different and is not regularly placed for lease there is nothing to worry about. All the available templates can be edited effortlessly and thus, you can safely edit the form and the document would be ready to use in no time.