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Lease Renewal Addendum
"I need a Lease Renewal Addendum for my commercial office space in Toronto, extending the current lease for 3 years starting March 1, 2025, with a 5% annual rent increase and updated insurance requirements."
1. Parties: Identification of landlord and tenant(s) with their full legal names and addresses
2. Background: Reference to the original lease agreement, including its execution date and property address
3. Definitions: Key terms used in the addendum, including reference to defined terms in the original lease
4. Term of Renewal: Specific start and end dates of the renewal period
5. Rent: Updated rental amount and payment terms for the renewal period
6. Confirmation of Original Terms: Statement confirming that all other terms of the original lease remain in full force and effect
7. Execution: Signature block for all parties, including date of signing
8. Notice: Contact information and addresses for official notices during the renewal period
1. Modified Terms: Used when any terms from the original lease are being modified beyond just the term and rent
2. New Terms: Used when adding new provisions that weren't in the original lease
3. Rent Increase Schedule: Used when implementing stepped rent increases during the renewal term
4. Maintenance Updates: Used when modifying maintenance responsibilities or introducing new maintenance requirements
5. Property Improvements: Used when documenting agreed-upon improvements or renovations to be completed during the renewal term
6. Special Conditions: Used when there are specific conditions or requirements for the renewal period
7. Insurance Requirements: Used when updating or modifying insurance requirements
8. Security Deposit Update: Used when modifying security deposit terms or amounts
1. Schedule A - Rent Payment Schedule: Detailed breakdown of rent payments, especially if there are stepped increases
2. Schedule B - Modified Terms Summary: Comprehensive list of all terms being modified from the original lease
3. Schedule C - Property Condition Report: Updated condition report if required for the renewal
4. Schedule D - Maintenance Schedule: Updated maintenance and repair responsibilities if modified
5. Appendix 1 - Original Lease: Copy of the original lease agreement for reference
6. Appendix 2 - Property Inspection Report: Current inspection report if required for renewal
Authors
Original Lease
Premises
Landlord
Tenant
Renewal Term
Commencement Date
Expiration Date
Base Rent
Additional Rent
Security Deposit
Common Areas
Operating Expenses
Renewal Option
Original Terms
Modified Terms
Effective Date
Property
Parties
Business Day
Notice
Payment Date
Rent
Permitted Use
Building
Term
Lease Year
Monthly Rent
Utilities
Improvements
Maintenance Obligations
Insurance Requirements
Force Majeure
Governing Law
Provincial Regulations
Term Extension
Rent and Payment
Security Deposit
Condition of Premises
Maintenance and Repairs
Insurance Requirements
Utilities and Services
Use of Premises
Assignment and Subletting
Default and Remedies
Notice Requirements
Entire Agreement
Original Terms Confirmation
Governing Law
Amendment and Modification
Severability
Compliance with Laws
Registration
Integration
Authority and Execution
Real Estate
Commercial Property
Residential Property
Retail
Office Space
Industrial
Healthcare
Education
Hospitality
Manufacturing
Warehousing
Professional Services
Legal
Real Estate
Facilities
Operations
Finance
Administration
Risk Management
Property Management
Asset Management
Corporate Services
Property Manager
Real Estate Manager
Leasing Agent
Facilities Manager
Real Estate Attorney
Legal Counsel
Corporate Real Estate Manager
Asset Manager
Operations Manager
Tenant Relations Manager
Commercial Lease Administrator
Property Administrator
Real Estate Director
Chief Financial Officer
Business Operations Manager
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