Property Management
A lease renewal option gives the tenant the right to:
ATerminate the lease without notice
BExtend the lease for an additional term at predetermined or negotiated rent✓ Correct
CSublease the property without landlord consent
DPurchase the property at any time during the lease
Explanation
A renewal option gives the tenant the contractual right to extend the lease term, often at a specified rent or at a rent to be determined at the time of renewal. The tenant must typically exercise the option within a specified notice period.
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