Topical Terminology > Renewal Option
2 Definitions
Renewal Option
For Renewal Option we have terms and definitions in 2 topics. The topics are Commercial Real Estate and Real Estate.
Renewal Option (Commercial Real Estate) 
An option in the lease giving the tenant the right to renew their lease, under certain terms and conditions and usually within a certain given time frame.
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Renewal Option (Real Estate)
A clause giving a tenant the right to extend the term of a lease
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