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When Is a Tenant Excused from Failure to Timely Exercise a Renewal Option?

Suppose a lease gives a tenant an option to renew, but requires that the option be exercised by a specified date. What happens when the tenant exercises the option after the specified date?

14 minute read June 27, 2012 at 03:17 PM
By
Stewart E. Sterk
When Is a Tenant Excused from Failure to Timely Exercise a Renewal Option?

Suppose a lease gives a tenant an option to renew, but requires that the option be exercised by a specified date. What happens when the tenant exercises the option after the specified date?

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