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Updated over 4 years ago on . Most recent reply
Rent increase in lease option
Hi, all.
A 5 year lease give a 5 year option to extend. It states:
Landlord hereby grants to Tenant the
option to extend the term of this lease for an
additional period of five years, commencing when the prior term
expires, upon the
same terms and conditions as are provided for herein.
same terms and conditions as are provided for herein.
The original lease states:
Can the 5 year extension be raised more than 1% each year or is it capped at that 1%?
Thanks