Fast answerA lease right that may allow the tenant to extend the term if stated notice, timing and other conditions are satisfied.
Why it matters
Missing a deadline can remove an important occupancy option.
What to request
Calendar notice dates and review rent-setting, conditions, excluded incentives, area and other renewal terms.
Planning example
Begin the renewal analysis early enough to preserve relocation alternatives. The example organizes arithmetic or evidence only; the transaction documents and facts determine the result.
Related decisions
Connect this term to the area, cost, building, flexibility and document provisions elsewhere in the office decision file.
Evidence boundary: office availability and quoted economics change. Confirm current premises, authority, area, costs, permitted use and documents for the specific transaction. Read the methodology.