What is the term for the right of a tenant to renew a lease at the end of its term in Pennsylvania?

The correct term for the right of a tenant to renew a lease at the end of its term is commonly referred to as the "right of renewal." This provision allows tenants to extend their lease agreement under predetermined conditions without the need for negotiation on new terms. Such a right provides security and stability for tenants, ensuring that they can continue to occupy the rental property if they choose to do so.

The right of first refusal, in contrast, allows a tenant the opportunity to purchase the property before the landlord can sell it to another buyer. This is different from merely extending the lease. The first option to purchase specifically entails the tenant having the opportunity to buy the property before it is sold, which does not relate directly to lease renewal. Similarly, the right to extend is not a commonly used legal term in this context. While it might imply a similar concept, "right of renewal" is the precise term used in Pennsylvania laws regarding lease agreements.