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A lease extension allows a tenant to prolong their lease beyond its original expiration date. The right to extend must be clearly stated in the lease agreement, which typically maintains the same terms as the prior lease. If not explicitly identified, the extension may be considered a new lease. The extension terms should include the rent amount, any potential increases, and a clause confirming that it continues the rights from the previous lease. Additionally, the tenant is required to provide written notice of their intention to extend within the timeframe specified in the extension offer.
