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Form 18-14: Tenant Option to Extend Lease Term

Provides an array of possible articulated formulas to escalate rent

 

(3 pages)

$25

This extensive form contains alternative clauses for virtually every approach to adjusting or increasing rent during option periods.

  • Fixed rental.

  • Formula CPI adjustment.

  • Formula CPI adjustment with a floor and a "cap" for first year of second option period. Each subsequent year of the second option period is subject to a full annual CPI increase.

  • Fair market appraisal.

  • Landlord's then-prevailing lease rate for comparable space.

  • Optional clause: Option to extend exercisable solely by original tenant.

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