Lease Extension Addendum Vs. New Lease

[Karen Johnson]

Hello,

My tenant's lease is set to expire in April 2020 without the option to renew. This is because tenant felt certain they would move out and purchase their own property in that time. Tenant is now opting to extend lease to a 2 year lease as they will not be ready to move by the end of the current lease term. Great tenant so I'm happy to accommodate.

Question - do I use a lease extension addendum or draw up a new lease?  Which option is better and why?  If a new lease, should the date be as of today or as of original lease date?

Thanks in advance!