Property Management
What is a 'lease renewal option' and how does it benefit tenants and landlords in Hawaii?
AA. A provision allowing only the landlord to decide whether to renew a lease
BB. A provision giving the tenant the right (but not obligation) to extend the lease for additional term(s) at terms specified in the original lease✓ Correct
CC. An automatic renewal of the lease unless notice is given to cancel
DD. A court order requiring the landlord to renew a commercial lease
Explanation
A lease renewal option gives the tenant the right to extend the lease for an additional period at predetermined terms. It benefits tenants by providing security of tenure and rent certainty.
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