Lease Amendment

A written modification to an existing lease that changes one or more terms of the original agreement, executed by both landlord and tenant, without creating an entirely new lease.

Extended Definition

Lease amendments are used to document agreed-upon changes during the lease term: extensions, expansions, rent reductions, changes to permitted use, or modifications to common area rights. Each amendment must be read in conjunction with the original lease and all prior amendments — a practice that makes lease abstraction particularly valuable in portfolios with heavily amended leases. The abstract should capture the amendment date, execution parties, and a summary of changed terms. Conflicts between an amendment and the original lease are typically resolved in favor of the amendment as the later-executed document.

Related Terms