A landlord or business tenant may find themselves in a situation when they would like to change some of the terms in their existing Commercial Lease Agreement. If both parties agree to these modifications, they make them official by adding a Commercial Lease Amendment to the original document.
What Is a Commercial Lease Amendment?
Commercial property is an office space, a warehouse, or any other space or building used for business purposes. Over time, the landlord or the tenant may find the original lease agreement's terms untenable or impractical. Rather than tearing up the old lease agreement and entering into a new one, they can use a Commercial Lease Amendment to modify some of the original document's terms.
However, a Commercial Lease Amendment is not intended to make wholesale changes to a Commercial Lease Agreement. For significant changes, it might be easier to annul the original contract and enter into a new one.
Other Names for Commercial Lease Amendment
Depending on your state, a Commercial Lease Amendment may also be known as:
- Amendment of Commercial Lease
- Commercial Lease Amendment Agreement
- Lease Amendment
- Amendment to Lease
- Lease Amending Agreement
- Lease Modification Agreement
Who Needs a Commercial Lease Amendment?
A Commercial Lease Amendment is used by a tenant and a landlord who wish to modify some of the terms of the original lease agreement. If either party wants to modify the commercial lease agreement, they must get the other party to go along before drafting a Commercial Lease Amendment that's amenable to both.
Why Use 360 Legal Forms for Commercial Lease Amendment?
Customized for you, by you
Create your own documents with our easy-to-understand questionnaires to get exactly what you need out of your Commercial Lease Amendment.
Specific to Your Jurisdiction
Laws vary by location. Each document on 360 Legal Forms is customized for your state.
Fast and easy
All you have to do is fill out a simple questionnaire, print, and sign. No printer? No worries. You and other parties can even sign online.
How to Create a Commercial Lease Amendment With 360 Legal Forms
Creating your Commercial Lease Amendment does not have to be stressful. It only requires a few details about the two parties in the original lease agreement and a clear description of the proposed changes.
Let 360 Legal Forms help with our extensive library of attorney-vetted legal forms. The process is fast and easy. All you have to do is fill out our easy-to-understand questionnaire. Once complete, simply download your form as a PDF or Word document from your secure online account.
What Information Will I Need to Create My Commercial Lease Amendment?
To create your document, please provide:
- Landlord Details: The legal name, contact information, and address of the landlord
- Tenant Details: The legal name, contact information, and address of the tenant
- Commercial Lease Agreement Date: The date of the original lease agreement
- Previous Commercial Lease Amendment Date: The date of the previous Commercial Lease Amendment, if any
- Date: The date when the Commercial Lease Amendment is to become effective
- Amendments: The proposed changes to the original document; may include the revocation of existing terms, changes to existing terms, and the addition of new terms
- Signatures: Both the tenant and the landlord must sign the document
- Statements: A statement by the tenant and the landlord agreeing to the amendment
- Property Address: The address of the commercial rental property
Commercial Lease Agreement Terms
- Addendum: A document that adds to the original lease agreement
- Landlord: The owner of the commercial rental property
- Tenant: The business that leases the commercial rental property
- Counterparts: A copy of the Commercial Lease Amendment that the landlord or the tenant signs in place of the original document
- Permission: A concession the landlord makes to a tenant regarding the property, such as the right to make changes to the layout for business operations
Commercial Lease Agreement Signing Requirements
Both the tenant and the landlord must sign the amendment. Notarization or the presence of a witness to the signatures is not required.
What to Do With Your Commercial Lease Amendment
Once both parties sign the amendment, the landlord usually keeps the original with the Commercial Lease Agreement being amended. The tenant should receive a signed copy for their own records.
