Under what conditions can a leaseholder apply for a lease extension?

A leaseholder can apply for a lease extension under specific conditions that typically include the length of ownership of the property. By requiring that the leaseholder has owned the property for a minimum of two years, this condition ensures that only those who have established an interest in the property are eligible to seek an extension. This rule helps prevent speculative applications and encourages genuine occupancy and improvement of the property.

In the context of leasehold management, this timeframe reflects a balance between allowing a leaseholder to solidify their rights and fostering a stable property market. It also aligns with regulations and practices that aim to protect both leaseholders and landlords during the lease extension process. The other choices may address aspects of leasehold agreements but do not encapsulate the primary requirement for applying for an extension, which is often tied to the duration of ownership.