Category: Real Estate

Tags: addendum meaning, what is an addendum, addendum definition, define addendum, lease addendum meaning, what is an addendum to a lease

At its simplest, an addendum is a document that is added to an existing contract or agreement. In the context of leasing, an addendum is often used to make changes or clarifications to the terms of the lease agreement. For example, an addendum might be used to extend the term of the lease, modify the rent amount, or make changes to the list of lessees. Addenda can also be used to address issues that arise after the lease has been signed, such as damage to the property or violations of the lease agreement. By using addenda, landlords and tenants can avoid having to rewrite the entire lease agreement every time a change is needed. Additionally, addenda can provide a clear record of what changes have been made to the lease agreement over time.