Agreement to extend the term of a residential lease, with possible modifications. Landlord and Tenant extend and continue the term and duration of the described Lease Agreement. Lessee(s) will continue to be joint and severally liable.
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.
Simi Valley California Residential Lease Extension Agreement is a legally binding contract entered into by a landlord and a tenant to extend the duration of a residential lease in Simi Valley, California. This agreement allows the tenant to continue living in the rental property beyond the original lease term, on agreed-upon terms and conditions. In Simi Valley, there are two common types of Residential Lease Extension Agreements: 1. Fixed-Term Lease Extension Agreement: This type of agreement is used when both the landlord and tenant agree to extend the lease for a specific period, typically in increments of months or years. The terms of the original lease, such as rental amount, maintenance responsibilities, and any additional clauses, are usually carried forward into the extension period. 2. Month-to-Month Lease Extension Agreement: This agreement is utilized when the original lease was on a month-to-month basis, and the parties wish to extend the tenancy without committing to a fixed period. It provides flexibility for both the landlord and tenant, as either party can terminate the lease with proper notice within the extension period. The Simi Valley California Residential or Rental Lease Extension Agreement typically includes the following key elements: 1. Parties Involved: This section identifies the landlord (lessor) and the tenant (lessee) participating in the lease extension agreement, along with their contact information. 2. Property Description: The agreement includes a detailed description of the rental property, such as its address, unit number, and any distinguishing features that uniquely identify it. 3. Original Lease Terms: This section outlines the terms and conditions of the original lease, including the lease start and end dates, monthly rental amount, security deposit details, and any specific clauses regarding pet policies, utilities, or maintenance responsibilities. 4. Extension Terms: Here, the specific extension period is defined, either with a fixed end date or as an ongoing month-to-month arrangement. Any changes or modifications to the original lease terms, such as revised rental amount or updated maintenance responsibilities, are defined in this section. 5. Rental Payment Details: This section states the payment terms for the extended lease, including the amount, due date, and preferred payment method. It may also specify penalties or late fees for failure to make timely payments. 6. Termination Clause: The agreement may include provisions for early termination, notice period, and any penalties or charges associated with ending the extended lease before its agreed-upon duration. 7. Signatures: Both the landlord and tenant must sign and date the agreement to make it legally binding, attesting to their understanding and acceptance of the terms outlined within the document. Simi Valley California Residential or Rental Lease Extension Agreements are vital for establishing the expectations and rights of both landlords and tenants in extending their rental relationship. It is essential for all parties involved to carefully review and understand the terms and conditions stated in the agreement to ensure a smooth continuation of the lease.Simi Valley California Residential Lease Extension Agreement is a legally binding contract entered into by a landlord and a tenant to extend the duration of a residential lease in Simi Valley, California. This agreement allows the tenant to continue living in the rental property beyond the original lease term, on agreed-upon terms and conditions. In Simi Valley, there are two common types of Residential Lease Extension Agreements: 1. Fixed-Term Lease Extension Agreement: This type of agreement is used when both the landlord and tenant agree to extend the lease for a specific period, typically in increments of months or years. The terms of the original lease, such as rental amount, maintenance responsibilities, and any additional clauses, are usually carried forward into the extension period. 2. Month-to-Month Lease Extension Agreement: This agreement is utilized when the original lease was on a month-to-month basis, and the parties wish to extend the tenancy without committing to a fixed period. It provides flexibility for both the landlord and tenant, as either party can terminate the lease with proper notice within the extension period. The Simi Valley California Residential or Rental Lease Extension Agreement typically includes the following key elements: 1. Parties Involved: This section identifies the landlord (lessor) and the tenant (lessee) participating in the lease extension agreement, along with their contact information. 2. Property Description: The agreement includes a detailed description of the rental property, such as its address, unit number, and any distinguishing features that uniquely identify it. 3. Original Lease Terms: This section outlines the terms and conditions of the original lease, including the lease start and end dates, monthly rental amount, security deposit details, and any specific clauses regarding pet policies, utilities, or maintenance responsibilities. 4. Extension Terms: Here, the specific extension period is defined, either with a fixed end date or as an ongoing month-to-month arrangement. Any changes or modifications to the original lease terms, such as revised rental amount or updated maintenance responsibilities, are defined in this section. 5. Rental Payment Details: This section states the payment terms for the extended lease, including the amount, due date, and preferred payment method. It may also specify penalties or late fees for failure to make timely payments. 6. Termination Clause: The agreement may include provisions for early termination, notice period, and any penalties or charges associated with ending the extended lease before its agreed-upon duration. 7. Signatures: Both the landlord and tenant must sign and date the agreement to make it legally binding, attesting to their understanding and acceptance of the terms outlined within the document. Simi Valley California Residential or Rental Lease Extension Agreements are vital for establishing the expectations and rights of both landlords and tenants in extending their rental relationship. It is essential for all parties involved to carefully review and understand the terms and conditions stated in the agreement to ensure a smooth continuation of the lease.
