The landlord needs to review his or her USPS lease periodically if it contains a renewal option or a series of renewal options. When the USPS is exercising a renewal option, the USPS is required to give the landlord notice during a specific time period. If the Postal Service does not exercise the option before the notice period expires, and if the Postal Service wishes to continue to lease the building in question, the landlord may require the Postal Service to enter into a new lease or amend the existing lease. By failing to give the option exercise notice during the exercise period stated in the lease, the Postal Service will likely have waived its right to exercise the option.
Contributed by
Karen J. Delamore, DRE Consulting
303-917-8810 or email kj.delamore@comcast.net