Renewal options normally require the lessor to maintain the assets and to make insurance and tax payments.

Name: Renewal options normally require the lessor to maintain the assets and to make insurance and tax payments.
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Quizplus · Accepted Answer

Renewal options typically pertain to the terms under which the lessee can extend the lease period, not the responsibilities of the lessor regarding maintenance, insurance, and tax payments, which are usually outlined separately in the lease agreement.

Renewal Options Normally Require the Lessor to Maintain the Assets