A lease extension is used to extend the terms of a previous lease between the landlord and tenant. By signing the extension, it is not necessary for the parties to execute a new lease. Generally, all terms of the previous lease are carried over by reference in the extension. Usually, the extension simply extends the term of the prior lease and may contain provisions for a revised rent payment.
Illinois Residential or Rental Lease Extension Agreement
State:
Illinois
Control #:
IL-826LT
Format:
Word;
Rich Text
Instant download
Description
Agreement to extend the term of a residential lease, with possible modifications. Landlord and Tenant extend and continue the term and duration of the described Lease Agreement. Lessee(s) will continue to be joint and severally liable.
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FAQ
1Find a solicitor. The Leasehold Advisory Service lists solicitors specialising in the field.2Value the lease. Professional valuation advice is crucial.3Negotiate the price. Your solicitor may approach the freeholder informally first.4Apply to a tribunal.
