Is an addendum the same as a lease?

A lease addendum is a legally binding document that both landlords and tenants agree to and sign (i.e., you can't add it to the lease without the tenant's knowledge!). Addendums modify the original lease agreement and/or provide additional information related to specific rental policies.

What is a lease extension premium?

The lease extension premium is what you pay to your freeholder to extend your lease. The rule of thumb is that the less years there are left on the lease then the higher the lease extension premium will be.

What is a month-to-month rental agreement Canada?

In Ontario, when a residential lease expires, and there is no new lease, the tenancy automatically becomes a month-to-month tenancy. The main advantage for tenants with a month-to-month tenancy is that they have much more flexibility if they decide to move.

What is the option to renew a tenancy agreement?

An option to renew or extend the lease means that upon the tenant's exercise of the option (choice), the provisions of the agreed-upon option are adopted for another defined term. The terms of the option can include the length of the new term, a change in rent, and other modifications.

How do I extend my tenancy agreement?

The option to extend or terminate a tenancy agreement usually comes up at the end of a fixed-term (usually 6 or 12 months) or when everyone involved agrees. Until that point, tenants are responsible for paying the rent even if they pack their bags and move out.

Can a lease automatically renew in Florida?

Yes, a lease can automatically renew in Florida. As long as there is a provision in the lease that states the lease will renew, the tenant and landlord can continue normally after the original term of the lease expires. If there is no provision included in the lease, it is assumed to be terminated on expiration.

How do I renew my lease in NY?

Renewal Leases Generally, the renewal lease must keep the same conditions and terms as the expiring lease. In NYC, owners must give written notice of renewal by mail or personal delivery not more than 150 days and not less than 90 days before the existing lease expires.

What is a month-to-month clause in an agreement?

A month-to-month rental lease is one that does not have a year-long clause for tenancy. Instead, the rental agreement is automatically renewed each month until either party follows the proper protocol to end the contract.

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MONTH TO MONTH LEASE ADDENDUM Date of Amendment: Landlord: Tenant: Property Address: City: State: Zip Code: THIS MONTH TO MONTH LEASE ADDENDUM was made and entered into between the above Tenant(s).

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