Document background
The Lease Agreement Extension Addendum is a critical document used in Australian property law when parties wish to extend an existing lease beyond its original term without creating an entirely new lease agreement. It is commonly used in both residential and commercial contexts, providing a streamlined way to continue the landlord-tenant relationship while potentially updating certain terms such as rent or duration. This document must comply with relevant state and federal legislation, including the Residential Tenancies Act or Retail Leases Act (depending on the property type), and typically includes essential details such as the extension period, revised rent terms, and any modified conditions. The addendum serves as a legally binding extension of the original lease, maintaining the security and clarity of the tenancy arrangement while reducing the administrative burden of executing a completely new lease.
