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This document is an Agreement to Amend Lease between a Landlord and multiple Tenants, outlining the terms for amending a previously executed Lease Agreement. It specifies that the original lease remains in effect except where modified by the amendment, which is detailed within the document.

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What does an amendment do to a contract?

A contract amendment allows the parties to make a mutually agreed-upon change to an existing contract. An amendment can add to an existing contract, delete from it, or change parts of it. The original contract remains in place, only with some terms altered by way of the amendment.

What is an amendment to remove a tenant from a lease?

An add or remove tenant lease amendment is used to change the number or identity of tenants on a lease without requiring a new agreement. By executing this document, all parties agree to alter the tenants listed on the lease without changing any of its other terms, such as the rental price.

What does the first amendment to lease mean?

A first amendment lease allows you to make a decision so that you can get the equipment you need and still have the option to buy it down the road. When the lease term expires, you are able to exercise the right to purchase the equipment at a fair market price.

What is the new rental law in Oregon?

Allowed Rental Rate Increases in 2024 Under Oregons rent stabilization law, the limit for the upcoming year is set by September 30. In ance with the new rate cap, the allowable annual rent increase for 2024 is 10%, bringing the rate nearly equal to the 9.9% increase in 2022.

What is the 90.320 law in Oregon?

(See Oregon law ORS 90.320.) That means the landlord must have your rental unit clean and in good working order when you move in. The landlord must also provide: Protection from water and weather (full insulation is not required);

What does an amendment to a lease mean?

A lease amendment is a document between a landlord and tenant that can be used to legally modify the terms in an active lease agreement. Adding a lease amendment to an existing lease can ensure landlords are fully protected when changes occur that the original document does not cover.

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