Lease Amendment Vs Addendum

What is lease amendment vs addendum?

A lease amendment and a lease addendum are both legal documents that are used to modify an existing lease agreement. However, there are slight differences between the two. A lease amendment is used to make changes to specific provisions of the original lease, while a lease addendum is used to add new provisions or additional terms to the existing lease agreement.

What are the types of lease amendment vs addendum?

There are several types of lease amendments and addendums, depending on the specific changes or additions to be made. Some common types include:

Rent Increase Amendment or Addendum
Extension or Renewal Amendment or Addendum
Pet Policy Amendment or Addendum
Alteration or Improvement Amendment or Addendum
Sublease or Assignment Amendment or Addendum

How to complete lease amendment vs addendum

Completing a lease amendment or addendum is a straightforward process. Here are the steps to follow:

01
Identify the changes or additions to be made
02
Draft the lease amendment or addendum document
03
Include clear and specific language to describe the modifications
04
Get the signature of all parties involved
05
Attach the completed amendment or addendum to the original lease agreement

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Video Tutorial How to Fill Out lease amendment vs addendum

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Questions & answers

An addendum (sometimes also known as a “rider”) is a document that can be added to an existing legal document to help modify, more clearly define, or even nullify one or more of its original terms.
An addendum can be created by persons other than the ones who signed the original contract. Amendments are considered part of a contract until it is next negotiated, while an addendum is a legal and binding part of the contract.
In real estate, an addendum adds additional information to a contract, while an amendment changes specific terms of an existing contract.
An amendment is often an addition or correction that leaves the original document substantially intact. Other times an amendment can strike the original text entirely and substitute it with new language. The U.S. Constitution is one example of the use of amendments.
Always put a contract amendment in writing and make sure both parties sign and date it. Reference the title of the contract, if applicable. its original parties. and original signing date, so that it is clear what document you are amending. Attach the amendment to the original contract.
In general, things to include in a lease addendum might be: Your name. The rental property address. The tenant's name. Relevant policy/information (that complies with your state/municipal's rental laws) Consequences for breaking any contract agreements. Space to sign & date for landlord. Space to sign & date for tenant.