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BURGER PROPERTY INVESTMENTS, LLC P.O. Box 271167, Louisville, CO 80027 Phone: (303) 665-6075 Fax: (303) 997-4824 www.bpi-rentals.com PERFORMANCE GUARANTEE ADDENDUM TO LEASE AGREEMENT This addendum
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How to fill out addendum to lease agreement
How to fill out addendum to lease agreement:
01
Review the original lease agreement: Before filling out an addendum to a lease agreement, it is important to thoroughly review the original lease agreement to understand its terms and conditions.
02
Identify the purpose of the addendum: Determine the specific reason for needing an addendum to the lease agreement. Common reasons include changes in rental terms, adding or removing tenants, or making amendments to certain clauses.
03
Clearly state the purpose in the addendum: Begin the addendum by clearly stating its purpose, such as "This addendum is made to modify the original lease agreement dated [date]."
04
Include all relevant details: Provide all necessary details related to the desired changes in the addendum. This may include updated rental amounts, additional tenants' names, new clauses, or any other modifications.
05
Specify effective dates: Clearly indicate the effective dates of the addendum, ensuring that it aligns with the original lease agreement. If the changes are retroactive, mention them in the addendum as well.
06
Obtain signatures: Once the addendum is completed, ensure that all parties involved in the lease agreement sign and date the document. This includes the landlord and all tenants.
07
Distribute copies: Keep a copy of the addendum for your records and provide copies to all involved parties. It is crucial to ensure that everyone has a copy of the modified lease agreement for reference.
08
Seek legal advice if necessary: If you have any concerns or doubts regarding the addendum's legal implications, it is recommended to seek legal advice to ensure compliance with local laws and regulations.
Who needs addendum to lease agreement?
01
Tenants seeking changes: If tenants wish to request changes to the original lease agreement, they may need an addendum to document those modifications.
02
Landlords making updates: In certain situations, landlords may need to make changes to the existing lease agreement. An addendum helps to formalize these updates and ensures that both parties are aware of the modifications.
03
Multiple tenants in a shared space: If there are multiple tenants sharing a leased space and they wish to modify certain terms, such as rent distribution or responsibilities, an addendum can be used to document these changes.
04
Changes in circumstances: Various changes in circumstances, such as new rules or regulations, changes in responsibilities, or alterations in occupancy, may require an addendum to be added to the original lease agreement.
05
Legal requirements: In some cases, legal requirements or regulations may necessitate the use of an addendum to lease agreement. It is important to stay informed about any relevant local or state laws that may apply to the lease.
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