Lease Renewal Agreement

The agreement is entered into by the Lessor and Lessee to extend the present agreement for the next period along with the changes if required in the agreement. This agreement executes a fresh lease between the parties. New conditions can be added in the lease renewal agreement. This agreement provides lessee an opportunity to negotiate the terms and clauses in the existing agreement and also helps in avoiding any future conflicts.

To make the agreement legally enforceable, it should be printed on a non judicial stamp paper and signed by both the parties. In case the period of the agreement exceeds 11 months, it should be registered at the sub registrar office. Use this agreement if: 1.You as a lessee wish to renew the lease before it expires. 2.You as a lessor would like to renew the lease agreement.

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Frequently Asked Questions

The agreement is entered into by the Lessor and Lessee to extend the present agreement for the next period along with the changes if required in the agreement. This agreement executes a fresh lease between the parties. New conditions can be added in the lease renewal agreement. This agreement provides lessee an opportunity to negotiate the terms and clauses in the existing agreement and also helps in avoiding any future conflicts.
Who needs this agreement and why?
To make the agreement legally enforceable, it should be printed on a non judicial stamp paper and signed by both the parties. In case the period of the agreement exceeds 11 months, it should be registered at the sub registrar office. Use this agreement if: 1.You as a lessee wish to renew the lease before it expires. 2.You as a lessor would like to renew the lease agreement.
What is the use of Annexure?
The following are all the major clauses included in this agreement:
  1. Original lease- mentions the expiry date of the original lease.
  2. Renewal term- mentions the extended time period.
  3. New Rent- mentions the new rent to be paid by lessee.
  4. Changes- details of the changes made in the original lease.
These are a few terms which might be useful to read about for a better understanding of this agreement:
  1. Lease-A lease is a legal document outlining the terms under which one party agrees to rent property from another party.
  2. Lessor-the person or company who leases a property to another. Commonly called the landlord.
  3. Lessee-the person to whom a property is leased or let out the. Commonly called the tenant.
  4. Demised premises- the property for which the lease agreement is to be renewed
What are the legal jargons used in this agreement?
There is no Annexure section in this agreement.
How to use this agreement?
The following are all the major clauses included in this agreement:
  1. Original lease- mentions the expiry date of the original lease.
  2. Renewal term- mentions the extended time period.
  3. New Rent- mentions the new rent to be paid by lessee.
  4. Changes- details of the changes made in the original lease.

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