Lease option
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      3. Lease option

      Retail leasing FAQ4: How do I exercise the option term on my lease?

      How do I exercise the option term on my lease?

      • Provide written notice to exercise the option term
      • Must happen within a certain window of time prior to lease expiry
      • The landlord has obligations to provide a notice of the last date to exercise an option
      • Legally bound to the option term once exercised in writing
      • Tenants in NSW & QLD can request early determination of market rent BEFORE exercising the option which places them in a much stronger negotiating position