Signed Addendum Lease Agreement

Lease Addenda is one of the best ways to keep your leases as efficient and watertight as possible. The duration of the lease depends in large part on the number of supplements and indications (optional and regulatory) that are included. Of course, Addenda will extend a lease, but they offer the advantage of breaking down a long document into sections that make it easier to read and refer to the lease. In most cases, you cannot increase the rent until the end of the lease. In controlled buildings, there are additional restrictions that you must comply with. They must also make appropriate communication. If a tenant`s lease expires soon, you should usually notify them a month in advance and indicate if you plan to offer them a new lease. If you are planning to increase the rent, this may be a good time to tell them. They have 30 days to find a new rent if they do not want to sign a new lease. In some areas, you may need to notify your tenants of rent changes more than 30 days in advance. If you don`t rent units in a controlled building, you`re often not limited to how much you can increase the rent.

With a little market research, you should be able to decide what fair rent would be in this neighborhood. Sometimes it makes even more sense not to increase the rent if this leads to expensive empty spaces. You need to find out what makes financial sense to your situation. Owner-tenant laws vary depending on the location, so ask the lawyer to understand what rules apply to you. An addendum is an addition or subtraction to an existing lease as opposed to an amendment to the original contract. To write an addendum, first check your original rental to make sure it allows addendums. If that`s the step, go ahead. Search online for a template that refers to your extra purpose so you don`t have to design it yourself. If you title your endorsement, refer to the original lease.

B”Addendum to the original lease, which was executed on November 6, 1989. Include the purpose of the addition, for example. B the authorisation of pets or the addition of a customer. Don`t forget to designate all parties involved in the addendum and include the validity date. Make sure there is a signature field at the bottom so that the customer and the owner can sign it.