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Option to renew lease templateOption to renew lease. Option to renew lease wording. Option to renew commercial lease template. Exercising option to renew lease template. Option to renew lease letter.4.7
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How to fill out option to renew lease

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How to fill out option to renew lease

01
Review the terms of the current lease agreement to see if there is an option to renew clause.
02
Determine the deadline or timeframe within which you must notify the landlord of your intention to renew the lease.
03
Notify the landlord in writing of your intention to renew the lease within the required timeframe.
04
Negotiate any changes to the terms of the lease, such as rent amount or lease duration, if necessary.
05
Sign a new lease agreement or lease renewal addendum to formalize the renewal of the lease.

Who needs option to renew lease?

01
Tenants who wish to continue occupying the rental property beyond the expiration date of the current lease.
02
Landlords who want to offer their current tenants the option to extend their lease agreement.
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An option to renew lease is a clause in a lease agreement that gives the tenant the right to extend the lease for a certain period of time, usually at the same terms and conditions as the original lease.
The tenant is usually required to file the option to renew lease if they wish to extend their lease.
To fill out an option to renew lease, the tenant must typically submit a written notice to the landlord stating their intention to extend the lease, along with any required documentation or fees.
The purpose of an option to renew lease is to provide the tenant with the opportunity to continue leasing the property for an additional period of time without having to negotiate a new lease agreement.
The option to renew lease must typically include the tenant's name, the property address, the term of the extension, any changes to the terms of the original lease, and the signature of both parties.
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