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A renewal clause in a real estate lease allows a tenant to decide whether or not to extend the lease once the initial lease term expires. A lease renewal allows a tenant to prolong a current lease past its scheduled end date.An option to renew a lease is a separate and distinct contract from the lease to which the option pertains. Commercial leases often include options to renew or extend the term of the lease. Submit a completed "Landlord Request for Lease Renewal Approval" form and all required documents at least 60 days prior to the effective date of the new lease. If you don't then the landlord can lease the space to another tenant without needing your consent.
