{"data":{"id":"us/48-cfr-570.401","jurisdiction":"us","citation":"48 CFR 570.401","heading":"570.401 Renewal options.","body":"(a) Exercise of options. Before exercising an option to renew, follow the procedures in 517.207. The contract must first provide the right to renew the lease. If a renewal option was not evaluated as part of the lease at award, then the addition of a renewal option during the lease term must satisfy the requirements of GSAM 506 regarding full and open competition.\n(b) Market information review. Before exercising an option to renew a lease, review current market information to determine that the rental rate in the option is fair and reasonable.","path":["Title 48—Federal Acquisition Regulations System","CHAPTER 5—GENERAL SERVICES ADMINISTRATION","SUBCHAPTER I—SPECIAL CONTRACTING PROGRAMS","PART 570—ACQUIRING LEASEHOLD INTERESTS IN REAL PROPERTY","Subpart 570.4—Special Aspects of Contracting for Continued Space Requirements"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-48.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:26:29Z","sha256":"eb12922de697cd805e12ad91608f803afe47470eccd882ccbbdcd3ef10ae5b40","source_id":"us-cfr","stale":true,"prev":"us/48-cfr-570.309","next":"us/48-cfr-570.402"},"notice":"GroundRules: Original legal text. Not legal advice."}