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An Addendum Tenancy Agreement is essential when parties need to modify an existing lease without creating an entirely new agreement. This document type is commonly used in Hong Kong's dynamic property market where changing circumstances often necessitate adjustments to existing tenancy arrangements. Typical modifications might include rent adjustments, lease extensions, changes to permitted use, or updates to maintenance responsibilities. The addendum must comply with Hong Kong property laws and regulations, particularly the Landlord and Tenant (Consolidation) Ordinance. It serves as a legally binding supplement to the original tenancy agreement, ensuring all changes are properly documented and enforceable. This document is particularly relevant in situations where market conditions change, tenant requirements evolve, or parties agree to modify specific terms while wanting to preserve the overall structure of their original agreement.
