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The concept of "blend and extend" lease renegotiation is introduced in the video tutorial. This technique involves discussing an amendment to the lease with the landlord to potentially lower the rent in a way that benefits both parties. It is suggested as a strategy for tenants facing challenges such as above-market rates and a changing market environment, with the goal of conserving cash and finding a mutually beneficial solution. This approach may not be suitable for every situation but has the potential to be effective in some cases.
