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A lease extension allows a tenant to prolong their lease past the original expiration date, provided the right to extend is explicitly stated in the lease. The terms of the extension typically mirror those of the previous lease, with all original terms remaining in effect; otherwise, it could be considered a new lease. The extension should outline specific terms, including any rent increases and a clause confirming it as a continuation of the previous lease's rights and options. Tenants are required to give written notice of their intent to extend the lease within the timeframe specified in the extension offer.
