A Lease Renewal Addendum is a legally binding document that can be used to modify an existing lease agreement. This document allows landlords and tenants to address any changes that necessitate the amendment of the original contract without the need to draft an entirely new agreement. It outlines any modifications – such as an increase in rent or change in occupancy – that are intended to restart the lease upon expiration. This document also serves as a way for all parties involved to agree on the updated terms, so that both tenant and landlord can renew the lease agreement without any further disputes.