Fillable Form Residential Lease Extension

What is a Residential Lease Extension?

A Residential Lease Extension, or also referred to as a rental agreement extension, leasehold extension, or lease extension agreement, is a legal agreement or contract done between a landlord and a tenant. This legal agreement is used to extend a tenant’s lease agreement beyond its expiration date.

Residential Lease Extensions are commonly used between landlords and tenants who engage in transactions regarding residential property or commercial property. This legal agreement or contract may also be used by parties who engage in transactions regarding equipment, machinery, vehicles, and other tangible property or materials for lease.

Once a Residential Lease Agreement expires, the landlord and the tenant can do a number of things. One thing the tenant can do after his or her Residential Lease Agreement expires is to give up access to the previously rented property and vacate it completely. Another thing both the tenant and the landlord can do is to create a lease renewal. In cases like this, the tenant and the landlord may have to renew the terms and conditions of the new lease.

Finally, the tenant and the landlord can decide to create a Residential Lease Extension to extend the lease for the property. In creating a Residential Lease Extension, the terms and conditions of the previous Residential Lease Agreement will still be in force. Normally, the time given for an extension is quite short, but in cases like this wherein the property in question is that of a residential rental property, the landlord may decide to keep portions of the terms and conditions in the previous Residential Lease Agreement but extend the period of tenancy for his or her tenant.

A Residential Lease Extension is a vital aspect when it comes to the relationship of a tenant and a landlord. This legal agreement or contract will help reduce the risks for both the tenant and the landlord. In cases wherein the landlord agrees to extend his or her tenant’s residential lease, the landlord will be able to keep the terms and conditions of the previous Residential Lease Agreement which includes terms about the tenant’s notices to vacate. Once this occurs, the tenant must submit a prior written notice to the landlord before he or she vacates the residential property. On a similar note, a Residential Lease Extension will be able to give tenants stability since they will not have to vacate their property after the expiration date of the lease.

A complete Residential Lease Extension must contain the following information:

• Date of the signing
  • Day
  • Month
  • Year
• Full legal name of the landlord
• Full legal name of the tenant
• Starting date of the previous Residential Lease Agreement
  • Day
  • Month
  • Year
• Expiration date of the previous Residential Lease Agreement
  • Day
  • Month
  • Year
• Starting date of the Residential Lease Extension
  • Day
  • Month
  • Year
• Expiration date of the Residential Lease Extension
  • Day
  • Month
  • Year
• Amount of the revised rent payment
• Day of the monthly payment
• Due date of the first full rent payment
  • Day
  • Month
  • Year
• Amount of the prorated sum to cover the period from the commencement of the Residential Lease Extension until the agreed day of the following month
• The signature of the landlord
• The full legal name of the landlord
• The signature of the tenant
• The full legal name of the tenant

How to fill out a Residential Lease Extension?

To fill out a Residential Lease Extension, one must provide the following information:

Date of Signing

Enter the date of signing.

Day

Enter the day of signing.

Month

Enter the month of signing.

Year

Enter the year of signing.

Landlord Name

Have the landlord enter his or her full legal name.

Tenant Name

Have the tenant enter his or her full legal name.

Prior Lease

Starting Date of the Prior Lease Agreement

Enter the starting date of the prior lease agreement.

Day

Enter the day when the prior lease agreement started.

Month

Enter the month when the prior lease agreement started.

Year

Enter the year when the prior lease agreement started.

Expiration Date of the Prior Lease Agreement

Enter the expiration date of the prior lease agreement.

Day

Enter the day when the prior lease agreement expired.

Month

Enter the month when the prior lease agreement expired.

Year

Enter the year when the prior lease agreement expired.

Extension of Prior Lease Term

Starting Date of the Prior Lease Term Extension

Enter the starting date of the prior lease term extension.

Day

Enter the day when the prior lease term extension starts.

Month

Enter the month when the prior lease term extension starts.

Year

Enter the year when the prior lease term extension starts.

Expiration Date of the Prior Lease Term Extension

Enter the expiration date of the prior lease term extension.

Day

Enter the day when the prior lease term extension expires.

Month

Enter the month when the prior lease term extension expires.

Year

Enter the year when the prior lease term extension expires.

Revised Rent Payments

Enter the amount of rent that must be paid by the tenant in equal monthly installments in U.S. dollars.

Monthly Payment Day

Enter the day of each month when the tenant must pay the rent.

First Rent Payment Due Date

Enter the due date of the tenant’s first full rent payment.

Day

Enter the day when the tenant’s first full rent payment is due.

Month

Enter the month when the tenant’s first full rent payment is due.

Year

Enter the year when the tenant’s first full rent payment is due.

Prorated Sum of Tenant

Enter the amount of the prorated sum the tenant will pay as rent to cover the period from the commencement of the Residential Lease Extension until the agreed day of the following month.

Day of Prorated Sum Payment

Enter the day when the tenant must pay the prorated sum as rent to cover the period from the commencement of the Residential Lease Extension.

Landlord Signature

Have the landlord affix his or her signature.

Landlord Name

Have the landlord enter his or her full legal name.

Tenant Signature

Have the tenant affix his or her signature.

Tenant Name

Have the tenant enter his or hell full legal name.

By affixing their respective signatures, both the landlord and the tenant agree that the payment of rent, non-payment of rent, and default for the late payment of rent will be governed in accordance with the terms and conditions of the previous Residential Lease Agreement as incorporated by the given reference or attachment.