In order to add an extension/renewal option for a lease, the lease must be time limited.
To add an extension/renewal option for a lease:
Open a lease. For more information on how to do so, see section 4.6. or 6.1.
Go to the lease card (see image below).
Click the tab called "Dates" (see image below). Within the tab called "Dates" you will, among other things, find a button called "New extension option". Note that you will have to scroll the lease card to find the button called "New extension option".
Click "New extension option" (see the first image below). When you do so, an extension/renewal option will be added for the lease you are working with (see the second image below). Use the extension/renewal option's fields to set information for it.