For dental professionals and retail business owners, your lease renewal option is one of the most valuable protections in your lease. But it only works if you exercise it before the expiry date.

🔑 What’s a Renewal Option?

A renewal option is a clause in your commercial lease that gives you the right, but not the obligation, to extend your tenancy when the initial lease term ends.

Key points to know:

• Your safety net: It ensures you can stay in your location for additional years without having to renegotiate a brand-new lease from scratch.
• Pre-negotiated terms: Many leases set out how long the renewal term will be (e.g., five more years) and how rent will be calculated.
• Strict deadlines: To exercise the option, you must notify your landlord in writing and in accordance with your lease, usually 6–12 months before your lease expires.
• One chance only: If you miss the notice window, the option disappears permanently, and you may lose the right to remain in your space.

🚨 Why It Matters

• Lose your space: The Landlord can lease to another tenant.
• Rent shock: Expect sudden increases if you must renegotiate without an option.
• New Lease: You may be required to enter into the landlord’s updated lease agreement, which could include terms and conditions that are less favourable and potentially impact the value of your practice.
• Business disruption: Moving a dental practice or retail shop is costly, stressful, and risky for patients or customers.
• Penalties: Some leases impose double rent if you “hold over” past expiry.

✅ How to Protect Your Practice

• Mark the expiry and renewal notice dates clearly in your calendar.
• Set multiple reminders well in advance.
• Start planning 12–18 months before expiry.
• Seek professional advice early; do not leave it to the last minute.
• Share your lease with a trusted appraiser or broker for a thorough review and strategies to maximise its value

👉 Bottom line: A renewal option is your guarantee of long-term stability, but only if you act on time. Missing the deadline can cost your practice thousands and even threaten your location.

Call to Action: Review your lease today. Note your renewal option deadline, set reminders, and start preparing well in advance; your future business may depend on it.

‍If you are unsure how your renewal option works, hire a qualified professional to review your lease and guide you through the process.

📅 Book Your Free 30-minute Consultation

‍📞 1-877-216-1013

📧 info@realtyleaseconsultant.com

🌐 www.realtyleaseconsultant.com 

‍