Definition of "Lease Agreement Addendum"
A lease agreement outlines the expectations of both the tenant and the landlord. It is a legally binding agreement, according to LawInfo.com. A lease addendum is used to add a missing stipulation or requirement to the lease agreement after it has been signed.
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Purpose
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A lease addendum adds rules or conditions to a lease agreement without having to renegotiate. This can be as simple as adding something that was missed in the original agreement, or making a change such as adding a pet.
Contents
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A lease addendum includes the names of both parties, the date the addendum is prepared, the date of the original lease contract, and a complete explanation of the additional stipulations. Both the lease agreement and the addendum must be signed and dated by both parties.
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Benefits
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A lease addendum provides both parties with documentation of any negotiated changes to the lease, eliminating the concern of misunderstandings or forgotten verbal agreements. If your landlord promised to install a screen door, for example, you could document that in a lease addendum. If you promised to keep up the yard, your landlord could hold you to it with a lease addendum.
Expiration
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Once signed, a lease addendum is valid for the duration of the original lease contract.
Breach
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Breach of the terms of a lease addendum is treated as a breach of the lease agreement, and can be treated as a violation of the lease by the affected party.
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References
- Photo Credit Image by Flickr.com, courtesy of Cambodia4kids.org Beth Kanter
