Ohio Modification of a Lease to Extend the Term and Increase the Base Rent

• Category: Leases - Extensions
• State: Multi-State
• Control #: US-02938BG
• Format: Word; Rich Text

Description

This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction. The Ohio Modification of a Lease to Extend the Term and Increase the Base Rent is a legal document used when landlords and tenants in Ohio come to an agreement to extend the duration of a lease and adjust the rental payment. This modification outlines the changes agreed upon by both parties and ensures that the new terms are legally binding. Keywords: Ohio, modification of a lease, extend the term, increase the base rent, landlords, tenants, agreement, rental payment, legal document There are no specific types of Ohio Modification of a Lease to Extend the Term and Increase the Base Rent as the content of the modification may vary depending on the specific terms negotiated by landlords and tenants. However, some common elements that may be included in such a modification are: 1. Parties Involved: The modification should clearly identify the parties involved, including the landlord (lessor) and the tenant (lessee). 2. Lease Details: The existing lease details, such as the original lease agreement's start and end date, lease term, and monthly rental amount, should be mentioned. 3. Extension of Lease Term: The modification should clearly state the desired extension of the lease term, specifying the new end date. For instance, if the original lease was set to end on September 30, 2022, and both parties agree to extend it for an additional year, the new end date should be mentioned as September 30, 2023. 4. Increase in Base Rent: The modification should specify the agreed-upon increase in the base rent amount. This could be a fixed dollar amount or a percentage increase. For example, if the original lease had a monthly rent of $1,000 and the parties agree to increase it by $100, the new base rent should be clearly mentioned as $1,100. 5. Other Terms and Conditions: The modification may include any additional terms and conditions agreed upon by both parties during the negotiation process. This could include changes to other lease provisions, such as parking allowances, maintenance responsibilities, or any other agreed-upon modifications. 6. Signatures: The modification should include spaces for both parties to sign and date the document, indicating their agreement to the modified terms. It is advisable to have the document witnessed or notarized for added authenticity. It is important to note that this description is just an overview, and it is always recommended consulting with a legal professional to ensure compliance with Ohio state laws and to tailor the modification to your specific circumstances.

The Ohio Modification of a Lease to Extend the Term and Increase the Base Rent is a legal document used when landlords and tenants in Ohio come to an agreement to extend the duration of a lease and adjust the rental payment. This modification outlines the changes agreed upon by both parties and ensures that the new terms are legally binding. Keywords: Ohio, modification of a lease, extend the term, increase the base rent, landlords, tenants, agreement, rental payment, legal document There are no specific types of Ohio Modification of a Lease to Extend the Term and Increase the Base Rent as the content of the modification may vary depending on the specific terms negotiated by landlords and tenants. However, some common elements that may be included in such a modification are: 1. Parties Involved: The modification should clearly identify the parties involved, including the landlord (lessor) and the tenant (lessee). 2. Lease Details: The existing lease details, such as the original lease agreement's start and end date, lease term, and monthly rental amount, should be mentioned. 3. Extension of Lease Term: The modification should clearly state the desired extension of the lease term, specifying the new end date. For instance, if the original lease was set to end on September 30, 2022, and both parties agree to extend it for an additional year, the new end date should be mentioned as September 30, 2023. 4. Increase in Base Rent: The modification should specify the agreed-upon increase in the base rent amount. This could be a fixed dollar amount or a percentage increase. For example, if the original lease had a monthly rent of $1,000 and the parties agree to increase it by $100, the new base rent should be clearly mentioned as $1,100. 5. Other Terms and Conditions: The modification may include any additional terms and conditions agreed upon by both parties during the negotiation process. This could include changes to other lease provisions, such as parking allowances, maintenance responsibilities, or any other agreed-upon modifications. 6. Signatures: The modification should include spaces for both parties to sign and date the document, indicating their agreement to the modified terms. It is advisable to have the document witnessed or notarized for added authenticity. It is important to note that this description is just an overview, and it is always recommended consulting with a legal professional to ensure compliance with Ohio state laws and to tailor the modification to your specific circumstances.