Document background
The Lease Renewal Addendum is a legal document used in Australian jurisdictions when parties wish to extend an existing lease agreement beyond its initial term. This document is essential when both landlord and tenant agree to continue their lease relationship but may need to update certain terms or conditions. The addendum references the original lease agreement and clearly specifies any modifications, such as new rental rates, extended duration, or updated terms, while typically maintaining the majority of the original lease provisions. It must comply with relevant state-specific legislation, such as the Residential Tenancies Act or Retail Leases Act, depending on the property type. The document is commonly used in both commercial and residential contexts, providing a streamlined alternative to creating an entirely new lease agreement while ensuring legal compliance and clarity for all parties involved.
