Lease Amendment To Extend Term Template for Australia

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Key Requirements PROMPT example:

Lease Amendment To Extend Term

"I need a Lease Amendment to Extend Term for my retail shop in Melbourne CBD, extending the current lease for an additional 5 years from March 2025, with annual rent reviews and inclusion of a refurbishment clause."

Document background
The Lease Amendment To Extend Term is a critical document used in Australian property law when parties wish to extend their existing lease arrangement beyond its current expiry date. It serves as an addendum to the original lease agreement, primarily used when both parties agree to continue their landlord-tenant relationship under substantially similar terms. This document type is particularly relevant in commercial, retail, and industrial leasing contexts across all Australian states and territories, requiring compliance with relevant state-based property legislation and registration requirements. It includes essential details such as the extension period, any rent adjustments, and confirmations that other original lease terms remain in effect. The amendment must be properly executed and may require additional approvals, such as mortgagee consent or regulatory compliance certificates, depending on the jurisdiction and property type.
Suggested Sections

1. Parties: Identifies all parties to the amendment, including the original lessor and lessee, with their current legal names and addresses

2. Background: References the original lease agreement, its date of execution, current term, and the parties' desire to extend the term

3. Definitions: Defines key terms used in the amendment, including references to defined terms in the original lease

4. Extension of Term: Specifies the new expiry date and confirms the extension of the lease term

5. Rent During Extended Term: States the rent payable during the extended term, including any adjustments or review mechanisms

6. Confirmation of Lease Terms: Confirms that all other terms and conditions of the original lease remain in full force and effect

7. Execution: Formal execution block for all parties to sign, including date and witness requirements

Optional Sections

1. Conditions Precedent: Used when the extension is subject to specific conditions being met, such as no existing defaults or completion of specific works

2. Modified Terms: Include when any terms of the original lease are being modified as part of the extension agreement

3. Option Periods: Used when granting additional option periods along with the extension

4. Regulatory Compliance: Include when specific regulatory requirements need to be addressed, such as retail lease legislation compliance

5. Mortgagee Consent: Required when the lessor's mortgagee needs to consent to the extension

6. Guarantor Acknowledgment: Include when the original lease has guarantors who need to confirm their ongoing obligations

Suggested Schedules

1. Schedule 1 - Original Lease: Copy or summary of the original lease agreement being extended

2. Schedule 2 - Updated Premises Plan: Current plan of the leased premises, if any changes have occurred

3. Schedule 3 - Rent Schedule: Detailed breakdown of rent payments and review dates for the extended term

4. Appendix A - Condition Report: Current condition of the premises at the time of extension, if required

5. Appendix B - Required Consents: Copies of any third-party consents required for the extension

6. Appendix C - Certificate of Independent Legal Advice: If required by law or agreed between the parties

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant Industries

Commercial Real Estate

Retail

Industrial

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Warehousing

Technology

Financial Services

Relevant Teams

Legal

Property Management

Facilities Management

Operations

Finance

Compliance

Real Estate

Administration

Risk Management

Corporate Services

Relevant Roles

Property Manager

Facilities Manager

Legal Counsel

Real Estate Manager

Commercial Lease Administrator

Property Operations Director

Asset Manager

Tenant Relations Manager

Business Operations Manager

Contract Administrator

Chief Financial Officer

Real Estate Director

Compliance Officer

Industries
Teams

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