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when a lease agreement comes to an end it doesnt always mean that both the landlord and the tenants will part ways sometimes a new lease agreement is established while in other cases the original lease is extended thats where a lease extension addendum comes in its a contract used to extend the original lease agreement and essentially setting a new expiration date that both parties agree on but at least extension addendum does more than just change the lease end date it can capture any changes in the rent prices if the original lease is set to expired soon its not uncommon for the monthly rent to increase the lease extension addendum will indicate the new price while the other provisions of the original lease agreement will stay as is its important to note that for a lease extension agreement to be added to the original lease and enforceable bylaw both the landlord and the Tenant must sign it so if youre a landlord or tenant facing the end of your lease agreement and considering
