Commercial Lease Addendum For Extension Option
Description
How to fill out District Of Columbia Residential Or Rental Lease Extension Agreement?
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FAQ
A commercial lease addendum makes a change to the terms of a pre-existing lease agreement. Upon the addendum being signed by both parties, the modification may be any request by the landlord or tenant.
The letter should include:Your name, current address and contact information.Date the lease extension request is submitted.Length of the lease extension, including the proposed end date.Reasons for extension.Date by which you need a decision, usually 10 days to two weeks.
An addendum is used to clarify and add things that were not initially part of the original contract or agreement. Think of addendums as additions to the original agreement (for example, adding a deadline where none existed in the original version).
An example of an addendum being used would be if the parties wanted to add something to the original document. For instance, an individual who is purchasing a house may not want to purchase all of the furniture that is being left behind. However, after thinking about it further, he changes his mind.
An addendum is an addition to a finished document, such as a contract. The most common addendum is an attachment or exhibit at the end of such a document.
