Illinois Residential or Rental Lease Extension Agreement
Understanding this form
The Residential Lease Extension Agreement is a legal document that allows a landlord and tenant to extend the term of an existing residential lease without creating a new lease. This agreement preserves the terms of the original lease while extending the rental period, making it a convenient option for both parties to continue their landlord-tenant relationship smoothly. It may also include changes to the rental payment or other terms as needed.
Key parts of this document
- Identification of the Landlord and Tenant involved in the lease extension.
- Reference to the original Lease Agreement, including start and end dates.
- Specification of the extended lease term, including the new expiration date.
- Details regarding any revised rent payments, including payment due dates.
- Signature fields for both the landlord and all tenants involved.
When this form is needed
This form is useful when both the landlord and tenant agree to extend the duration of a lease that is about to expire. It is appropriate in situations where the tenant wishes to continue renting the property without interruption, and the landlord wants to retain the tenant for a longer period. This agreement eliminates the need for drafting a new lease while still ensuring that all terms are clear and agreed upon.
Intended users of this form
- Landlords who want to extend a current lease agreement with their tenants.
- Tenants seeking to continue their tenancy without signing a new lease.
- Parties looking to modify existing lease terms while maintaining certain conditions.
How to prepare this document
- Identify the parties involved by entering the names of the landlord and all tenants.
- Specify the original lease agreement details, including dates and property address.
- Enter the new lease extension start and expiration dates.
- Detail any changes to rent payments, including amounts and due dates.
- Ensure all parties sign and date the form to finalize the agreement.
Notarization requirements for this form
This form usually doesn’t need to be notarized. However, local laws or specific transactions may require it. Our online notarization service, powered by Notarize, lets you complete it remotely through a secure video session, available 24/7.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes
- Failing to include all tenant names in the agreement.
- Not specifying the correct extension dates.
- Neglecting to clarify any changes in rent or terms.
- Forgetting to collect all signatures before submission.
Why use this form online
- Convenience of filling out and downloading the form from anywhere.
- Editable templates that can be customized to your specific needs.
- Access to professionally drafted documents to ensure legal validity.
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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.
