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Residential Lease Extension
"I need a Residential Lease Extension for my 2-bedroom apartment in Mumbai, extending the current lease for 24 months from March 1, 2025, with a 5% annual rent increase and maintaining all other existing terms from the original lease."
1. Parties: Details of the landlord/lessor and tenant/lessee, including full names, addresses, and contact information
2. Background: Reference to the original lease agreement, its date, and key terms, establishing the context for the extension
3. Definitions: Key terms used in the agreement, including references to defined terms from the original lease that remain applicable
4. Extension Term: Specific details of the extension period, including start and end dates
5. Rent and Payment Terms: Confirmation of existing or revised rent amount, payment schedule, and method of payment
6. Continuation of Original Terms: Explicit statement of which terms from the original lease remain in effect
7. Security Deposit: Status of existing security deposit or terms for any additional deposit required
8. Maintenance and Repairs: Ongoing responsibilities for property maintenance and repairs
9. Utilities and Charges: Responsibility for utility payments and other ongoing charges
10. Termination: Conditions and process for early termination of the extended lease
11. Governing Law: Confirmation that the agreement is governed by Indian law and relevant state regulations
12. Execution: Signature blocks for all parties and witnesses
1. Rent Revision Clause: Include when the extension includes a change in rent amount or revision schedule
2. Property Modifications: Include when allowing or documenting any alterations to the property during the extension period
3. Additional Occupants: Include when there are changes to the authorized occupants of the property
4. Insurance Requirements: Include when updating or adding insurance obligations
5. Force Majeure: Include when parties want to address unforeseen circumstances that may affect the lease
6. Subletting Provisions: Include when modifying or clarifying subletting rights during the extension period
7. Green Lease Provisions: Include when adding environmental and sustainability obligations
1. Schedule A - Property Description: Detailed description of the property including any changes or updates since original lease
2. Schedule B - Inventory List: Updated list of fixtures, fittings, and furniture included in the lease
3. Schedule C - Payment Schedule: Detailed breakdown of rent payments, maintenance charges, and other financial obligations
4. Schedule D - Maintenance Schedule: Specific maintenance obligations and schedules for both parties
5. Schedule E - Original Lease: Copy of the original lease agreement for reference
6. Appendix 1 - Property Photos: Current photographs documenting the condition of the property
7. Appendix 2 - Compliance Certificates: Updated safety and compliance certificates where required
Authors
Real Estate
Property Management
Residential Housing
Legal Services
Property Investment
Rental Housing Management
Urban Housing Development
Property Consulting
Legal
Property Management
Real Estate Operations
Compliance
Contract Administration
Tenant Relations
Documentation
Property Services
Asset Management
Residential Leasing
Property Manager
Real Estate Manager
Legal Counsel
Property Administrator
Leasing Manager
Housing Society Manager
Residential Property Officer
Contract Administrator
Real Estate Legal Advisor
Tenant Relations Manager
Property Documentation Specialist
Compliance Officer
Real Estate Operations Manager
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