lease renewal
[/liːs rɪˈnjuːəl/]
nounpl: lease renewals
renovação de aluguel
1. The extension or continuation of a lease agreement for an additional period of time, typically under the same or modified terms
The lease renewal is set to begin on January 1st with a 5% increase in rent.
A renovação de aluguel está programada para começar em 1º de janeiro com um aumento de 5% na renda.
2. The process of negotiating and executing new lease terms before the current lease expires
We need to initiate lease renewal discussions with our landlord three months before expiration.
Precisamos iniciar discussões sobre renovação de aluguel com nosso proprietário três meses antes do vencimento.
3. A legal document or agreement that formally extends the original lease
Both parties signed the lease renewal document yesterday.
Ambas as partes assinaram o documento de renovação de aluguel ontem.
In Brazil, lease renewals are common in both residential and commercial real estate. Landlords typically provide notice 30-60 days before expiration. Rent increases are often tied to inflation indices (like IGPM or INPC). In the USA, lease renewal practices vary by state, with some requiring written notice and others allowing automatic renewal clauses. Both markets consider lease renewal negotiations a standard business practice.
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