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Lease Agreements are fixed-term, legally-binding arrangements that guarantee the safety of both landlords and tenants. Although it's ideal, not always the case, your lease should consider all potential scenarios that might arise while it's in force.
A lease addendum is an additional piece of the document outside of the original lease, that legally binds the landlords and tenants with a signature (you cannot add it to the lease without the tenant's knowledge!). The original lease agreement is modified by the addendum, which also adds information about specific rental rules.
In a separate document known as a lease addendum, you can make changes to an existing lease agreement or insert new information that isn't currently there. Although they don't function the same as a lease agreement, addenda give landlords complete protection.
Depending on what the lease addendum is for, the detailed information you'll need to submit will change, but a lease addendum typically includes the following:
- Name of the landlord
- The location of the rental home
- The name of the tenant
- Data needed to comply with local landlord-tenant legislation (if applicable)
- The additional added terms and conditions and/or changes made
- The consequences of breaching the lease addendum
- Section for each party's signature and date
The addenda must be between one and two pages long, particular to each problem, and include the word "addendum" in the title to be legally binding.
A lawyer should evaluate lease addendums and abide by landlord-tenant rules, just like a standard lease agreement. Any contracts you and your tenant's sign must adhere to all applicable legal rental regulations in order for your rental business to succeed.
Note: This information is not meant to be a replacement for, replace, or be taken as legal advice from a professional. It is only designed to be used as a reference and is not intended to take the place of advice from your lawyer, legal representative, or other advisors. Please consult a professional legal representative or attorney to ensure your lease complies with all applicable state and/or federal laws.
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