Rent Reduction AgreementA Rent Reduction agreement is a document used to outline the terms of a reduced rental rate over a pre-existing lease agreement.
This document was designed for businesses who have recently encountered financial hardship, and would like to negotiate a temporary reduction in rent for their leased premises. The first part of this document is drafted as a letter requesting for the reduced rate, and the second part of this document may be used to outline the reduced rental agreement in writing.
Use this Rent Reduction Agreement Notice if:
- You are a business experiencing financial hardship
- You wish to request for a rent reduction for a period of time
What does this document cover?
- Details regarding your business’s financial health
- The reduced rent and period requested
- Other terms of the rent reduction