Document background
The Lease Extension Addendum is a crucial document used when parties to an existing lease agreement wish to extend their rental arrangement beyond the original termination date. It's commonly used in South African property transactions for both residential and commercial properties when the original lease is approaching its end date and both parties agree to continue their landlord-tenant relationship. This document must comply with South African property law, including the Rental Housing Act and related legislation. The addendum typically includes the extension period, any rent adjustments, and confirmation of existing terms, while allowing for modifications to suit changing circumstances. It serves as a more efficient alternative to drafting an entirely new lease agreement, maintaining continuity while updating necessary terms.
