Property Management
When a Montana commercial tenant exercises a lease renewal option, the property manager should ensure:
AThe renewal is verbal to save time
BThe renewal notice is delivered within the timeframe specified in the lease and documented in writing✓ Correct
CThe tenant pays an additional security deposit upon renewal
DThe renewal automatically resets all lease terms to current market rates
Explanation
Commercial lease renewal options typically have strict notice requirements. The property manager must ensure the tenant provides written notice within the specified timeframe in the lease. Failure to meet notice requirements can cause the option to lapse.
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