A Lease Extension Document is an official document that extends an existing lease agreement, allowing the tenant and property owner to continue their relationship. It serves to extend the rental period of a leased property and outlines the details of the terms of the agreement so that both parties remain informed of the key points. The Lease Extension Document also includes all details on monthly payments, including any rent increases, should they occur. In order to be effective, the document must be signed by both parties and witnessed. By signing the Lease Extension Document, both the tenant and property owner agree to the updated terms and conditions.