CRE Definition Series: Renwal Option

CRE Definition Series: Renwal Option

CRE Definition Series: Renewal Option

Tenants often want the right to extend their lease term after the initial lease term expires. The right to extend the lease option should be spelled out in the lease. If you don’t have this option it doesn’t mean the landlord won’t renew the lease, simply that it would need to be negotiated before the current lease expires.






About the Author

Lynn Drake’s status is well known in the industry: She’s the commercial realtor focused on maintaining “true north” for her corporate clients. It’s a reputation built on 35 years of commercial real estate experience. Lynn became a commercial realtor in 2001 after 15 years in corporate real estate. Thus far in her career, Lynn has successfully completed over 1,500 real estate transactions ranging from small business tenant leases to the sale and purchase of industrial complexes.