Hello guys my name is matthew and in uh today's video we are going to create least extension agreement for this reason we are going to use the link underneath this video so let's click on the link and it will take us exactly uh where we should start which is legaltemplates.net right now let's click on the real estate forms and then view all real estate forms then scroll a bit down and there is a lease extension agreement and let's click on there now let's pick a state that will govern this ladder and let's go with access and create document it can be any other city but i prefer texas so why not so let's go with tenant's information this is gonna be all made up so so don't worry address city and many more uh basically you'll fill the tenants uh information and if there is more uh tenants you just go with yes or if there is only one tenant go with no landlords information be mr at its address also city state we can leave with texas and then the zip code what date was the original agreement signed when does the original agreement agreement term end does the original lease agreement have an option to renew section if so yes if no no what is the address of the property this i won't feel it's up to you guys uh how long the how long is the extension period if needed will the payments remain the same if yes or no what will be the new amount to be paid security deposit additional provisions governing law i'm usually going with the same that it's all based in next and then we have the effective date so when this form will be rightfully on...
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How to prepare Lease Extension Agreement
About Lease Extension Agreement
A Lease Extension Agreement is a legal contract between a tenant and a landlord that extends the existing lease term beyond its original duration. This agreement is used when the tenant desires to continue occupying the rental property after the initial lease period expires. The Lease Extension Agreement outlines the terms and conditions for extending the lease, including the new lease period, rental rate, and any other modifications or provisions agreed upon by both parties. It is typically signed before the existing lease term ends and becomes effective immediately upon expiration of the original lease. There are several reasons why both tenants and landlords may need a Lease Extension Agreement. For tenants, it may be beneficial when they wish to avoid the hassle and expense of finding a new rental property or prefer to stay in a location that suits their needs. Landlords may also find it advantageous to extend a lease with a responsible and reliable tenant instead of going through the process of finding new occupants. In summary, a Lease Extension Agreement serves as a legal document that allows tenants to continue residing in a rental property beyond the initial lease term while providing landlords with a tenant commitment for an extended period.
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