An extend lease agreement is a formal legal document that is used to extend the agreed-upon terms of an existing rental contract. The agreement can include changes to the rental amount, length of tenancy, and any additional terms that are mutually agreed upon by both parties. It is important to fully understand what the agreement states so that both parties are aware of their rights and responsibilities before signing. By extending a lease agreement, it allows both parties to benefit from the extended term, ensuring continuity of tenancy and security for both sides.