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Ontario lease extension form

Lease extension 2026

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This document is a Lease Extension Agreement between the Lessor and Lessee, extending the original lease for a specified additional period at an agreed rate. It outlines the terms of the extension and confirms that both parties are bound by the original lease conditions.

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Click ‘Get Form’ to open the lease extension agreement in the editor.
Begin by entering the date of creation in the first blank space provided. This is essential for establishing the timeline of your agreement.
Next, fill in the names of both parties involved: the LESSOR and the LESSEE. Ensure that all names are spelled correctly to avoid any legal issues.
Specify the property address where the lease applies. This should be detailed and accurate to prevent any confusion.
Indicate the new lease period by filling in both the start and end dates. This section clarifies how long the extension will last.
Enter the new rental rate and frequency (e.g., monthly, annually) in the designated fields to confirm payment terms.
Finally, both parties should print their names, titles, sign, and date at the bottom of the document to finalize it.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Whats the difference between renewal and extension?

Extensions focus on extending the contracts duration with minimal changes, maintaining the existing terms and structure. Renewals allow for comprehensive changes, including adjustments to pricing, deliverables, or other terms, ensuring the agreement aligns with evolving goals.

What are the disadvantages of extending a lease?

A lease extension may not alleviate the burden of ground rent and service charges. These charges are typically paid to the freeholder for the maintenance of common areas and services in the building. Depending on the terms of your lease, these charges may remain unchanged or even increase with the lease extension.

What is an extension lease?

The cost. The costs of extending your lease is called the premium. An average premium with approximately 80 to 90 years left on the lease, can cost 2500 to 6500. The exact valuation is calculated at the time of request and the premium is based on the remainder of the lease term and the property value.

What is the meaning of lease extension?

A lease extension refers to a legal agreement that extends the term of an existing lease or rental agreement. The lease extension should name the parties involved, the dates on which the extension begins and ends, and should reference the earlier agreement being extended.

Is it a good idea to extend a lease?

What Is a Lease Extension? A lease extension refers to a legal agreement that extends the term of an existing lease or rental agreement. Extensions are not a requirement in a business relationship but are often granted just before an original agreement is set to expire.

lease extension agreement ontario

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How much does it cost to extend your lease?

You can typically extend a lease at any time before the current lease expires, but its recommended to start the process 60 to 90 days in advance to give both parties enough time to review and agree on the updated terms.

Who pays for a lease extension?

Leasehold Extension - Getting Started Firstly, you will have to pay the premium for the lease extension. Secondly, you will have to pay your landlords reasonable costs as they are legally entitled to.