A lease is a contract where a landlord conveys rights in a property to a tenant, subject to conditions set forth in the lease. A residential lease conveys property for where the tenant will live, while a commercial lease conveys property where the tenant will run a business. A commercial lease can be amended anytime the landlord and tenant agree to change the original lease terms.
Negotiate changes in the existing lease with the landlord, if you are the tenant, or with the tenant, if you are the landlord. Write a document amending the commercial lease to include the following sections.
Write a paragraph stating who the parties to the amendment are and the date when the amendment becomes effective.
Write a paragraph stating that the parties wish to amend the original lease agreement. Include the title and date of the original lease and the names of the original lease parties. Include a recital stating the parties wish to amend their lease.
Write the newly amended portions of the lease, section by section. For example, if the parties agreed to extend the term of the lease, rewrite the "term" section from the original lease to include the changes that the parties agreed upon during negotiations. If the parties agreed to a new amount of base rent, rewrite the "base rent" section from the original lease and include the changes that the parties agreed upon during negotiations.
Create a signature line, a date line, and a notarial acknowledgement for each party to the amended lease. Print one copy of the final lease amendment for each party.
Meet with the other parties in the presence of a notary public. Sign all copies of the lease amendment and make sure all other parties to the lease amendment do the same. Direct the notary public to authenticate the signatures. Keep one fully signed and notarized copy of the lease with your important business records.
- A commercial lease is a valuable business asset. Consult an attorney if changes to the lease are significant or complex.
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