The Lease Extension Agreement is a crucial document used when parties wish to continue their existing lease relationship beyond the original term. It is particularly relevant in the Swiss market where both residential and commercial leases are heavily regulated by the Swiss Code of Obligations and cantonal laws. This document is used when both landlord and tenant agree to extend their lease arrangement, typically maintaining most original terms while potentially updating certain provisions such as rent (which may be adjusted according to Swiss rent control regulations) or maintenance obligations. The agreement must comply with Swiss legal requirements regarding form and content, including specific provisions about rent increases, maintenance responsibilities, and notice periods. A Lease Extension Agreement is often preferred over creating an entirely new lease as it maintains continuity while allowing for necessary updates to reflect current market conditions or changed circumstances.
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1. Parties: Identification of the landlord and tenant, including full legal names, addresses, and any registration numbers for legal entities
2. Background: Reference to the original lease agreement, its date, and brief description of the parties' intention to extend the lease
3. Definitions: Key terms used in the agreement, including references to defined terms from the original lease agreement
4. Extension Term: Specific details of the extension period, including start and end dates
5. Rent and Payment Terms: Confirmation of existing rent or specification of adjusted rent, payment schedule, and any indexation provisions
6. Continuing Terms: Confirmation of which terms from the original lease agreement remain in effect
7. Representations and Warranties: Statements by both parties confirming their authority to enter into the extension and that the original lease is in good standing
8. Governing Law and Jurisdiction: Confirmation of Swiss law application and jurisdiction for dispute resolution
9. Execution: Signature blocks for all parties and date of signing
1. Modified Terms: Section specifying any terms that are being changed from the original lease agreement, used when terms other than duration and rent are being modified
2. Security Deposit: Updates to security deposit arrangements, included if any changes are being made to the existing deposit
3. Maintenance and Repairs: New or modified maintenance obligations, included if these terms are being updated
4. Insurance Requirements: Modified insurance obligations, included if insurance terms are being updated
5. Notice Provisions: Updated contact details or notice requirements, included if these need to be modified
6. Break Options: Early termination rights, included if new break options are being added or existing ones modified
1. Schedule 1 - Original Lease Agreement: Copy of the original lease agreement being extended
2. Schedule 2 - Property Details: Updated description of the leased property if any changes have occurred
3. Schedule 3 - Rent Calculation: Details of any rent adjustments including indexation calculations if applicable
4. Schedule 4 - Condition Report: Updated condition report of the property at the time of extension
5. Appendix A - Updated Building Rules: Any new or modified building rules or regulations, if applicable
6. Appendix B - Utilities and Services: Updated list of utilities and services included in the lease, if modified
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