Free Lease Extension Agreement Template

A Lease Extension Agreement is a legal contract used when a tenant and landlord agree to extend their lease past the final day of the original agreement. 

These types of agreements can be used for leases that are both residential and commercial and allow you to do the following: 

• Extend your lease agreement with the other party for a short time
• Keep the same terms and conditions

However, it is possible to change certain terms if you and the other party agree. 

This is different from a lease renewal, which sets up the lease agreement for another term, not just a temporary period. 

Use our free printable Lease Extension Agreement template to create your document in minutes. 

When to Use a Lease Extension

If you are thinking about extending a lease, you should consider if it’s a good time to do so. 

After all, if you have a tenant who has been constantly breaking the rules you may not want to lengthen the agreement. 

Here are some ideal times when you, as a landlord, might consider using a Lease Extension:

• Tenant in good standing: If you have a tenant who consistently pays rent on time, keeps the property in good condition, and respects the terms of the lease, you might wish to extend their lease. A reliable tenant can bring peace of mind and stability.
• When the rental market is unfavorable: If the lease is about to end during a season when the rental market typically slows down (like winter), it may be beneficial to extend the lease for a few months until the market picks up.
• Not planning any renovations: If you're not planning to make significant property improvements or renovations and don’t mind your tenant staying a bit longer a Lease Extension can be used.

To successfully create and use a valid Lease Extension Agreement it’s crucial to follow every step. By doing so you ensure each party is on the same page and no necessary terms are left out. 

Complete the following steps to create your legal document: 

1. Review the current lease: The first step in extending a lease is to review the terms of the current lease agreement. Look for any clauses related to extension or renewal. If there's an option for renewal, the terms for doing so should be outlined.
2. Communicate with the tenant: Once you've reviewed the current lease, discuss the extension with the other party.
3. Create a Lease Extension Agreement: Once both parties agree to the new terms, draft your contract with all the necessary information.
4. Review the terms: It's essential for both parties to thoroughly review the Lease Extension Agreement before signing. Make sure all agreed-upon terms are accurately represented in the agreement.
5. Sign the agreement: Once the Lease Extension Agreement is acceptable to all parties, sign the document. It's recommended that the agreement be signed in the presence of a notary public for added legal protection. Make sure each party receives a signed copy for their records.

Now that you understand the process of extending a lease it’s critical to know which terms you must include in the document.

Whether you want to draft a Commercial Lease Extension Agreement extension or a residential one, you’ll need to know what to mention and how all terms and conditions must be stated. 

It’s worth noting that a Lease Extension Agreement in Florida may not be the same as one in Kentucky or another state, which is why you should make that you follow all state and federal regulations. 

Follow these steps to ensure that you correctly draft your document: 

1. Add names and the date: Include each party’s full name as well as the date the document is going to be signed.
2. Mention the property and lease details: Write the address of the property and the date the original lease is set to expire.
3. Specify the length of the extension: State the start and end dates for the extra period of time that the lease will be in effect.
4. Include terms and governing law: Mention if terms such as rent, security deposit money, and maintenance will stay the same. Also, specify under which state’s laws the agreement will be governed.
5. Add space for signatures: Include a space for you and the tenant to sign the Lease Extension Agreement. There should also be a space to include the notary public’s signature.

Take advantage of our Lease Extension Agreement template to ensure you don’t leave any of these details out of your document.

When creating your document you should be aware of the differences between an agreement and an addendum. 

Depending on your situation and what each party wants to be changed in the lease, you may find that one is better than the other when extending the original contract. 

Review the differences between an agreement and an addendum below.

If you’d like to review the terms and structure of a Lease Extension Agreement, we have a sample document you can look over. 

Use this example to help you understand exactly how your extension should be formatted.

There are similar documents that can be used to buy or rent homes, as well as create other types of real estate agreements.

Check out the following documents to help you deal with tenants, buyers, and more.

• Residential Lease Agreement
• Commercial Lease Agreement
• Eviction Notice
• Notice to Vacate
• Rent Increase Notice

Consult with these documents on LawDistrict if you are interested in any related legal matters.