> ## Documentation Index
> Fetch the complete documentation index at: https://docs.tangoanalytics.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Exercise a lease option

> Record the exercise of a renewal, purchase, or other option on a lease.

Use this process when a tenant or landlord formally exercises an available option on a lease. This is distinct from the month-to-month extension process.

<Steps>
  <Step title="Find leases with upcoming options">
    From the lease home, click **Upcoming Options**. The report shows all active leases with a final notice date within the next 90 days.

    To expand the date range, change the **Final Notice Date To** field and click **Search**. To find a specific lease, type in the lease name or number column and press Enter.
  </Step>

  <Step title="Open the lease">
    Click the lease name hyperlink to open Lease Details in a new tab.
  </Step>

  <Step title="Navigate to Options and Terms">
    Click **Contract Details → Options and Terms**.
  </Step>

  <Step title="Select the option to exercise">
    Click on the available option in the list.
  </Step>

  <Step title="Click Exercise">
    Click the **Exercise** button. A confirmation pop-up appears.

    <Note>The Exercise button is disabled if the option already has an Exercised Date populated.</Note>
  </Step>

  <Step title="Confirm the exercised date">
    Today's date pre-populates as the exercised date. Correct it if needed, then click **OK**.
  </Step>

  <Step title="Send notifications (optional)">
    Check the notification box to send alerts to internal contacts. Select the recipients, add a message, include any additional email addresses, then click **OK**.
  </Step>

  <Step title="Verify the updates">
    * The option status changes to **Exercised** and the Exercised Date populates.
    * On **Basic Info**, the **Rent End Date** updates to the end of the exercised option.
    * Review the **Recurring Costs** tab to update payment amounts and end dates for the renewal term.

    <Warning>If a disposition date is on the lease, the rent end date does not automatically update. You must update it manually.</Warning>
  </Step>
</Steps>