An Extended Lease Agreement is a legally binding contract between two parties, usually a landlord and a tenant. It outlines the terms of a lease that has been extended for an additional period of time, typically beyond the initial agreement’s expiration date. This type of lease ensures continuity and stability for both parties by allowing them to extend the current terms of their agreement rather than entering into negotiations and drafting a new contract. With the security of an Extended Lease Agreement, both landlords and tenants can rest assured that they are protected from unexpected changes in their obligations and rights.