A rental contract clause that gives a tenant the choice to make a lease last longer.
Related information about renewal option:
- Renewal Option Definition | Investopedia
A clause in a lease that outlines the terms for renewing or extending an original lease agreement. The renewal option appears as a covenant in the original ...
- What is renewal option? definition and meaning
Definition of renewal option: Provision in a lease agreement allowing it to be renegotiated at the end of the lease term, at the same or different terms.
- Negotiating the Renewal Option
Jun 27, 2010 ... Before I decided to write this article, I did a quick on-line search of articles written on the subject of the renewal option. In most cases, these ...
- Renewal Option: Definition from Answers.com
Right, but not obligation, of a tenant to continue a lease at specified term and rent . Previous: Renewal , Renewable Nat.
- Renewal or Extension
ARTICLE --RENEWAL OPTION Provided Lessee is not in default under any of the terms and conditions of this Agreement and Lease, Lessee shall have the ...
- renewal option - Financial Dictionary - The Free Dictionary
A right that may be given to a tenant to continue in the leased space at the expiration of the current lease, on specified terms and conditions. A renewal is a new ...
- What Is a Renewal Option?
Also known as an option to renew or a right of renewal, a renewal option is a condition found in the provisions of many types of business contracts. Essentially ...
- Advanced Pro-Landlord Fair Market Rental Renewal Option
Advanced Pro-Landlord Fair Market Rental Renewal Option. SECTION 8. OPTION TO EXTEND. (a) Landlord hereby grants Tenant two (2) consecutive options ...