Tips for negotiating renewal-option clauses
from By Dale Willerton and Jeff Grandfield
The renewal-option clause in a lease is there for the sole benefit of the tenant. Essentially, its purpose is to ensure that you're allowed to lease your commercial space for another lease term. However, tenants need to understand that not all landlords automatically include renewal-option terms in their offer to lease or formal lease agreement. Requesting, insisting on and/or negotiating for renewal-option rights is the tenant's responsibility.
7701 Las Colinas Blvd., Ste. 800, Irving, TX 75063