Property Management
In Louisiana, a 'lease renewal option' in a commercial lease allows the tenant to:
ATerminate the lease at the renewal date without notice
BExtend the lease for an additional specified term at pre-agreed conditions by providing timely notice to the landlord✓ Correct
CAssign the lease to a new tenant at renewal
DRenegotiate all lease terms at the renewal date
Explanation
A lease renewal option gives the tenant the unilateral right to extend the lease for an additional term on specified conditions (or at market rent to be determined) by providing the required advance notice within the specified window. The landlord cannot refuse a properly exercised option.
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