Introduction
This precedent provides a professionally drafted Notice of Exercise of Lease Option, together with supporting correspondence used when advising tenants and serving notice on the landlord or managing agent.
The documents assist practitioners to properly exercise a renewal option under a commercial lease and provide practical letters for advising the tenant and serving the notice in accordance with the lease requirements.
Professionally Drafted Legal Precedent
Prepared by Australian legal professionals, this precedent provides a practical framework for use with the Contract for Sale and Purchase of Land 2026.
The document is fully editable in Microsoft Word and ready for immediate use.
At A Glance
What This Document Covers
- Formal Notice of Exercise of Lease Option for renewal of a commercial lease
- Letters advising the tenant client about the option period and next steps
- Letters serving the notice on the landlord or managing agent
- Optional correspondence requesting variations to the new lease terms
Who Should Use This Document
- Lawyers and legal practitioners advising tenants or landlords
- Commercial property advisers assisting with lease renewals
- In-house counsel managing commercial property portfolios
- Practitioners acting for tenants exercising renewal options
Jurisdiction
Drafted for use in Australia. Review and update as required for the relevant State or Territory legislation and the specific lease transaction.
Australia
Download Details
- Fully editable Microsoft Word documents
- Professionally drafted legal precedent
- Includes notice and supporting correspondence
- Instant download after purchase
Drafted by Legal Professionals
Our precedents are prepared by Australian legal practitioners and reflect commonly used legal drafting standards.
Practical and Easy to Use
Each template provides a structured framework that can be adapted to suit the specific transaction or matter.
Instant Access
Download immediately after purchase and edit the document in Microsoft Word to suit your requirements.
Related Precedents
Frequently Asked Questions
What is a Notice of Exercise of Lease Option?
A Notice of Exercise of Lease Option is a written notice given by a tenant to the landlord confirming that the tenant wishes to exercise the renewal option contained in the lease and continue the tenancy for the further term specified in the lease.
Can a lease option be exercised by email?
Some leases allow electronic notice, but many require written notice in a specific form. Practitioners often use a signed notice served with a covering letter to ensure there is clear evidence that the option has been properly exercised.
Also Known As
- Notice exercising option to renew lease
- Lease renewal notice
- Notice of exercise of option to renew lease
- Commercial lease option renewal notice
- Tenant notice exercising lease option
- Lease option renewal notice template
Download This Precedent
Instant download. Fully editable Microsoft Word format. Includes practical drafting guidance.