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Lease Extension Addendum

Lease Extension Addendum Template for Austria

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Key Requirements PROMPT example:

Lease Extension Addendum

"I need a Lease Extension Addendum for our commercial office space in Vienna, extending the current lease for an additional 3 years from March 1, 2025, with a 5% rent increase and maintaining all other original terms."

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Document background
The Lease Extension Addendum is a critical document used in Austrian real estate practice when parties wish to extend their existing lease relationship beyond the initially agreed term. It finds application in both commercial and residential contexts, subject to the provisions of the Austrian Tenancy Act (Mietrechtsgesetz) and Civil Code (ABGB). This document type is particularly relevant when parties wish to maintain their existing lease relationship without executing an entirely new lease agreement, offering a streamlined approach to lease continuation. The addendum typically specifies the extended term, any rent adjustments, and confirms the continued validity of original lease terms, while ensuring compliance with Austrian statutory requirements for lease modifications.
Suggested Sections

1. Parties: Identification of the landlord and tenant as per the original lease agreement, including their current addresses and any updated contact information

2. Background: Reference to the original lease agreement, including its date, property details, and confirmation that both parties wish to extend the lease term

3. Definitions: Key terms used in the addendum, including reference to definitions from the original lease that remain applicable

4. Extension Term: Clear specification of the new lease end date and the effective date of the extension

5. Confirmation of Existing Terms: Statement confirming that all other terms and conditions of the original lease remain in full force and effect

6. Binding Effect: Declaration that the addendum forms an integral part of the original lease agreement

7. Execution: Signature blocks for all parties, including date and place of signing

Optional Sections

1. Rent Adjustment: Include when the extension involves a modification of the rent amount or payment terms

2. Modified Terms: Include when other specific terms of the original lease are being modified alongside the extension

3. Break Clause: Include when parties wish to add or modify early termination rights for the extension period

4. Maintenance Obligations: Include when maintenance responsibilities are being revised for the extension period

5. Security Deposit Adjustment: Include when changes to the security deposit are being made with the extension

Suggested Schedules

1. Schedule 1 - Original Lease: Copy or extract of the original lease agreement for reference

2. Schedule 2 - Property Condition Report: Updated condition report if required for the extension period

3. Schedule 3 - Rent Calculation: Details of any rent adjustments or indexation calculations if applicable

4. Appendix A - Authorization Documents: Any required corporate or agency authorizations for signing the extension

5. Appendix B - Property Plans: Updated property plans or floor plans if there are any changes to the leased space

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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alex.den.21@genieai.co
Relevant Industries

Real Estate

Retail

Office Space

Industrial

Hospitality

Healthcare

Education

Logistics

Manufacturing

Professional Services

Relevant Teams

Legal

Real Estate

Facilities Management

Operations

Finance

Compliance

Property Management

Asset Management

Administrative Services

Risk Management

Relevant Roles

Property Manager

Facility Manager

Real Estate Director

Legal Counsel

Corporate Lawyer

Operations Manager

Asset Manager

Leasing Manager

Contract Administrator

Chief Financial Officer

Real Estate Portfolio Manager

Compliance Officer

Building Services Manager

Industries
Austrian Civil Code (ABGB): The fundamental civil law codification that provides the basic framework for contracts, including lease agreements (§§ 1090-1121 ABGB). Contains provisions about the basic requirements for contract modifications and extensions.
Tenancy Act (Mietrechtsgesetz - MRG): Specific legislation governing residential and commercial lease relationships in Austria. Contains mandatory provisions regarding lease terms, notice periods, and requirements for lease modifications.
Consumer Protection Act (Konsumentenschutzgesetz - KSchG): Relevant when the tenant is a consumer, providing additional protection and specific formal requirements for contract modifications with consumers.
Stamp Duty Act (Gebührengesetz): Governs the stamp duty obligations that may arise from lease modifications and extensions. Lease extensions might trigger stamp duty payments.
General Civil Law Amendment 2003 (Wohnrechtsnovelle 2003): Contains important amendments to tenancy law, including provisions affecting lease modifications and extensions.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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