A simple lease extension for my own apartment. If you negotiate an increase, check if local laws put a cap on the percent of increase allowed per year.
The following Extension of Lease Agreement is made by and between: Name of Landlord ("Landlord") and Name of Tenant ("Tenant"), collectively referred herein as the "Parties".
The Parties agree to mutually extend and amend the lease agreement executed by them on Date and related to the premises located at Address as follows:
- The term of said lease is exended for a period of further 12 months commencing on Start Date, and terminating on End Date.
- During the extended term, the monthly rent agreed upon in said lease is increased by Percent Increase%, and therefore Tenant shall pay Landlord a monthly rent of $New Rent less any unsettled costs paid by the Tenant on behalf of the Landlord to date (itemized below), paid Pay Period
The Parties further knowledge that all other terms of the lease shall continue during this extended term as if set forth herein, and that this agreement shall be binding upon the Parties' successors, assignees and representatives.