48 CFR § 570.401 - 570.401 Renewal options.

---
identifier: "/us/cfr/t48/s570.401"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "48 CFR § 570.401 - 570.401   Renewal options."
title_number: 48
title_name: "Federal Acquisition Regulations System"
section_number: "570.401"
section_name: "570.401   Renewal options."
chapter_number: 5
chapter_name: "GENERAL SERVICES ADMINISTRATION"
subchapter_number: "I"
subchapter_name: "SPECIAL CONTRACTING PROGRAMS"
part_number: "570"
part_name: "ACQUIRING LEASEHOLD INTERESTS IN REAL PROPERTY"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "40 U.S.C. 121(c)."
regulatory_source: "64 FR 37265, July 9, 1999, unless otherwise noted."
cfr_part: "570"
---


# 570.401 570.401   Renewal options.

(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.

(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.

[76 FR 30851, May 27, 2011]