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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, and the terms typically mirror those of the previous agreement, indicating that all terms remain unchanged. If not explicitly listed, the extension may be considered a new lease. The extension option should outline the terms, including any rent increase and confirm that the agreement continues the rights from the original lease. The tenant is required to give written notice of their intention to extend the lease by the date specified in the extension offer.
