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.
Lansing Michigan Residential or Rental Lease Extension Agreement is a legally binding contract that allows the extension of a residential rental agreement between a landlord and tenant in Lansing, Michigan. This agreement outlines the terms and conditions that both parties agree upon to extend the lease term beyond the initial agreed-upon period. The main purpose of a lease extension agreement is to provide tenants with the option to continue residing in the leased property for an extended period without the need to enter into a completely new lease agreement. It also allows landlords to maintain a stable rental income and avoid the hassle of finding new tenants. The Lansing Michigan Residential or Rental Lease Extension Agreement typically includes essential details, such as the names and contact information of both the landlord and tenant, the property address, the original lease start and end dates, and the new extended lease start and end dates. This agreement also outlines any changes, modifications, or additions made to the original lease terms. In some cases, landlords may offer different types of lease extension agreements in Lansing, Michigan, depending on the specific needs and circumstances of both parties. These variations can include: 1. Fixed-Term Lease Extension Agreement: This type of extension agreement sets a specific period for the lease extension, usually indicated in months or years. It stipulates the exact start and end dates of the extended lease. 2. Month-to-Month Lease Extension Agreement: Instead of committing to a fixed term, this agreement allows tenants to extend their lease on a month-to-month basis. This provides flexibility for both the tenant and landlord, as it allows for easier terminations or modifications of the lease with proper notice. 3. Rent Increase Lease Extension Agreement: In this type of extension agreement, the landlord may request a rent increase for the extended lease period. The specific terms of the rent increase, such as the percentage or fixed amount, should be clearly stated in the agreement. 4. Renewal Lease Extension Agreement: This agreement is used when the original lease has expired, and the parties wish to continue the tenancy. It typically involves the signing of a completely new lease agreement that reflects the updated terms and conditions. To ensure a smooth extension process, both landlords and tenants should carefully review all details, negotiate any changes, and seek legal advice if necessary before signing a Lansing Michigan Residential or Rental Lease Extension Agreement. It is important to understand the rights and obligations of both parties to avoid any potential disputes in the future.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
