What type of lease allows the lessee to renew the lease without negotiation of terms each time the lease ends?

The type of lease that allows the lessee to renew the lease without negotiation of terms each time the lease ends is the renewable lease. This lease structure typically includes provisions that grant the lessee the right to automatically renew the lease agreement for additional terms, often under the same terms and conditions as the original lease. This is beneficial for both parties, as it provides stability for the tenant while ensuring the landlord continues to receive rental income without the need for re-negotiation.

In contrast, a fixed lease establishes a set term for the lease without the option for renewal, while a periodic lease is one that automatically renews at the end of each period (e.g., monthly or yearly) but may require negotiation of terms depending on the agreement. An estate for years specifically refers to a leasehold interest for a fixed duration, which also doesn’t guarantee automatic renewals without negotiation. Thus, a renewable lease is specifically designed for ease and continuity in leasing arrangements.