When it comes to leasing commercial spaces, it`s essential to have a solid contract in place that includes all the necessary details and provisions for a smooth and successful lease agreement. However, there may be times when you need to make additional changes or amendments to the contract to accommodate new requirements or unforeseen circumstances. In such cases, it`s crucial to understand how to add an addendum to your lease agreement.
An addendum is a separate document that is attached to the original lease agreement and outlines any additional terms, conditions, or changes to the original contract. Adding an addendum to your lease agreement can help you and your tenant to ensure that any new requirements or changes are recorded and agreed upon by both parties.
Here are some steps to follow when adding an addendum to your commercial lease agreement:
1. Identify the changes or additional terms that need to be added: Before creating the addendum, you need to identify the specific changes or terms you want to add. It`s best to discuss these changes with your tenant to ensure that both parties agree on the new terms.
2. Draft the addendum: Once you have identified the changes, you need to draft the addendum. The addendum should be written in a clear and concise manner and should include the date and reference to the original lease agreement.
3. Sign the addendum: Once the addendum is drafted, both you and your tenant must sign it to make it legally binding. It`s also essential to date the addendum and have it notarized to ensure its validity.
4. Attach the addendum to the original lease agreement: Once the addendum is signed and dated, it should be attached to the original lease agreement. This ensures that both parties have access to all the terms of the lease agreement, including any changes or additions made through the addendum.
In conclusion, adding an addendum to your commercial lease agreement allows you and your tenant to make necessary changes or additions to the original contract. It`s crucial to understand the process of adding an addendum and ensure that both parties sign and date the document to make it legally binding. By following these steps, you can ensure a successful and smooth lease agreement.