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A Lease Amendment is used to modify an existing Lease Agreement between a tenant and landlord by adding or removing clauses, or changing existing clauses. An amendment allows the parties to change the terms without having to sign a new Lease Agreement.
A lease addendum is a separate document that allows you to add changes to an existing lease agreement or add new information not already included. Addendums do not act the same as a lease agreement, but adding them ensures landlords are fully protected.
What is a Lease Addendum? Lease addenda are separate documents that landlords add to an original lease agreement. Landlords use them to provide additional information that the original lease doesn't cover.
Timeframes for what is in essence something quite straightforward can take between 2- months. The main reason for this is that in most cases there are several parties involved and their lawyers.
Here are seven essential clauses to include in your lease agreement. Identify Landlord and Tenants. Identify Property. Rental Term. Rent Amount and Due Date. Security Deposit Terms. Tenant Responsibilities. Landlord and Tenant Signatures.