This type of lease renewal permits tenants to combine their current lease with a new and longer lease. This type of arrangement lowers the current rental rate, which is beneficial to a tenant who is paying rent that is above the current market rent. This benefits both tenants and landlords, as tenants will experience an immediate reduction in the rental rate while the landlord secures the tenant for a longer term.
Blend and Extend
This type of lease renewal permits tenants to combine their current lease with a new and longer lease. This type of arrangement lowers the current rental rate, which is beneficial to a tenant who is paying rent that is above the current market rent. This benefits both tenants and landlords, as tenants will experience an immediate reduction in the rental rate while the landlord secures the tenant for a longer term.
