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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 outlined in the lease agreement. Typically, the extension follows the same terms as the original lease, specifying that all previous terms remain unchanged; otherwise, it may be regarded as a new lease. The extension option should include terms such as the rent amount, any potential rent increase, and a clause confirming continuity of rights from the previous lease. Additionally, the tenant must give written notice of their intention to extend the lease within the timeframe specified in the extension offer.