Property Management
A Wisconsin commercial tenant who exercises a lease option to renew creates a new lease at:
AThe original lease rate only
BThe terms specified in the renewal option provision of the original lease✓ Correct
CWhatever rate the landlord sets at the time of renewal
DA rate determined by arbitration
Explanation
A lease renewal option gives the tenant the right to extend the lease at terms specified in the original option provision, such as the same rate, market rate, or a formula-based rate.
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