Select Page

NOTICE OF EXERCISE OF LEASE OPTION

Crafted by legal professionals in Australia, our documents are not only legally sound but also easily customisable to suit your needs.

Every purchase includes a free drafting handbook to guide you step-by-step.

✔  Crafted by Australian legal professionals

✔  Free drafting handbook Included

✔  Fully editable Word Format

🛒 Purchase → ⬇️ Download Instantly → ✏️ Customise & Use

At a Glance

Ensure clarity and compliance when exercising a lease renewal with a professionally drafted Notice of Exercise of Lease Option. This essential legal document helps tenants, landlords, and legal professionals formally confirm the extension of a lease under the terms of the existing agreement, mitigating risks and ensuring transparency.

Notice of Exercise of Lease Option

This Notice of Exercise of Lease Option is used by a tenant (lessee) to formally notify the landlord (lessor) of their intention to renew a lease for a further term under an existing option clause. It ensures compliance with the lease’s notice provisions and documents the renewal in writing for legal certainty.

What This Notice Covers

• Reference to the original lease and option clause
• Renewal period, commencement, and termination dates
• Proper execution by directors under section 127(1) of the Corporations Act 2001 (Cth)
• Optional space for witness details
• Suitable for both company and individual lessees

✅ Free Checklist: Acting for the Lessee • ✅ Free Checklist: Acting for the Lessor • 📘 Free Legal Drafting Booklet

Why Use This Template?

• Provides a legally valid notice of renewal under a lease option
• Protects tenant rights by ensuring timely and proper notification
• Includes clear formatting for corporate execution and witnessing
• Saves time with editable fields for dates, names, and terms
• Compliant with Australian commercial leasing practice

Suitable For

This precedent is ideal for tenants, landlords, and property lawyers who need a professional and compliant form to exercise a lease renewal option under an existing lease.

INCLUDES

This Download Includes

 

  • letter to lessee client advising on Notice of Exercise of Lease Option
  • letter to lessor enclosing Notice of Exercise of Lease Option
  • letter to lessors managing agent enclosing Notice of Exercise of Lease Option and requesting variations
  • letter to lessors managing agent enclosing Notice of Exercise of Lease Option
  • Notice of Exercise of Lease Option

 

 

Key Components

 

  1. Parties Involved: Identification of the landlord (lessor) and tenant (lessee), including names and contact information.
  2. Property Description: Detailed description of the leased property, including the address and any specific identifiers.
  3. Lease Reference: Reference to the original lease agreement, including the date of the lease and any relevant sections or clauses that outline the option being exercised.
  4. Option Being Exercised: Clear statement of the specific option being exercised (e.g., lease renewal, extension, purchase option) and any relevant terms.
  5. Effective Date: The date on which the tenant intends to exercise the option and any relevant timelines or deadlines specified in the lease.
  6. Acknowledgment of Terms: Acknowledgment that the tenant agrees to the terms and conditions associated with exercising the option, as outlined in the original lease agreement.
  7. Signature: Signatures of the tenant and, if required, the landlord, to acknowledge receipt and agreement.

 

 

Advantages

 

  1. Clarity and Documentation: Creates a clear record of the tenant’s intention and the landlord’s acknowledgment, reducing the potential for misunderstandings or disputes.
  2. Legal Protection: Ensures that both parties are aware of and agree to the exercise of the option, providing legal protection in case of any disagreements.
  3. Timely Notification: Helps ensure that the tenant exercises their option within the required time frame specified in the lease agreement.

 

 Get Your Template

Fully editable & ready to download instanty

 Instant download + free drafting Guide.

 

 

✔  Secure checkout

✔  Instant Download

✔  Australian-law-compliant