The deadline prior to expiration by which the tenant must exercise the renewal.
Also known as: Option Notice Period
Missing the renewal notice deadline permanently forfeits the right to renew, forcing the tenant into holdover status or the open market. Notice periods typically range from 180 to 365 days before expiration. A tenant who misses a 270-day deadline on a $50,000/month lease loses both the contractual renewal right and the negotiating leverage that comes with it, potentially adding hundreds of thousands in relocation costs.
Stated in the "Renewal Option" section, typically expressed as "no later than X days prior to the Expiration Date." This is one of the most important critical dates to calendar immediately upon abstraction.
Lextract uses vision AI to read your lease PDF natively (scanned or digital), then multi-pass AI validation identifies and extracts the renewal notice (days). The AI searches for the field name and common aliases like "Option Notice Period" across all pages of the document, then assigns a confidence score based on document quality and extraction certainty. Fields with lower confidence are flagged for human review.
Most commercial leases require 6 to 12 months advance notice to exercise a renewal option. Office leases typically require 9 to 12 months, while retail and industrial leases may allow shorter periods of 6 to 9 months. The exact number of days should be calendared as a critical date.
Technically, the renewal option expires and the tenant loses the right to renew. Some landlords will accept late notices as a goodwill gesture, but they have no legal obligation to do so. Courts generally enforce strict deadline compliance for option exercise.
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