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Commonly Asked Questions about Amendment of Lease Forms

A contract amendment is a formal alteration or modification made to an already signed contract. A contract addendum is an additional document that is attached to the original contract. The decision to use an addendum or an amendment depends on the nature of the changes being made.
An addendum is attached to a contract to create additional terms, and an amendment changes the terms within an existing contract.
An addendum typically provides additional information without altering the original documents terms. Amendments, on the other hand, introduce major changes to the original agreements terms.
Definition: Any amendment to a lease contract is a lease modification unless the lessees right to use the underlying asset has been diminished.
A contract amendment is a change, correction, clarification, or deletion to an agreement you have already signed. An amendment leaves your original agreement substantially intact.
Heres the information youll need to input: The parties involved: The amendment should include your name (or LLC) and your tenants name. The effective date: Add the date on which the amendment will be effective. Generally, landlords have the first day of the upcoming month be the effective date.
If you want to change part of the lease, discuss it with the landlord. If the landlord agrees, the two of you should decide how you want to word the change and then write it into the agreement. Both you and the landlord should then initial the change.