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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