This office lease form states that the tenant shall exercise its option to renew this lease upon written notice given to the landlord no less than eighteen (18) months before the end of the lease term.
The New York Notice of Intention to Exercise Option is a legal document that is commonly used in real estate transactions. This notice is typically given by a tenant who wishes to exercise their option to renew or extend their lease agreement with the landlord. In New York, there are different types of Notice of Intention to Exercise Option, depending on the specific terms and conditions laid out in the lease agreement. Some of these types include: 1. Fixed-Term Lease Notice: This type of notice is used when a tenant wants to exercise their option to renew a lease agreement for a fixed period of time, usually for another year or more. 2. Month-to-Month Lease Notice: In the case of a month-to-month lease agreement, where the tenancy continues on a month-to-month basis, this notice is used to indicate the tenant's intention to extend the lease agreement for another month or more. 3. Commercial Lease Notice: For commercial properties, there is often a provision for tenants to exercise their option to renew the lease. In this case, a Notice of Intention to Exercise Option specific to commercial leases is used. Regardless of the type, a New York Notice of Intention to Exercise Option should include the following key information: — Tenant's name and contacinformationio— - Landlord's name and contact information — Propertaddresses— - Lease term or renewal period being exercised — Proposed start and end dates of the new lease term — Any specific terms or conditions requested by the tenant for the new lease term. It is important to note that the New York Notice of Intention to Exercise Option must be written in compliance with the laws and regulations of the state. It is always recommended consulting an attorney or real estate professional when drafting or submitting this document to ensure its accuracy and validity.
