Extension of Lease Agreement is a formal document that extends the validity of an existing lease agreement between two parties. It is used when one party wishes to extend the term of a current lease for additional time beyond the expiration date. This type of agreement provides both parties with the security of knowing there will be no surprises if either party wishes to remain in the property after the expiration date. The extension of the lease agreement allows changes to be made to rental amounts, any previously agreed-upon fees, and more. With an Extension of Lease Agreement, both parties can keep their peace of mind while ensuring their rights and obligations within the contract are still upheld.