The standard lease period is 1 to 2 years (subject to individual landlords' requirements) and with or without an option to renew the lease. The lease renewal is usually for another 1 to 2 years and subject to a mutually agreed rental amount at the end of the tenancy. For lease renewal option, the landlord would normally require that you give 2 or 3 months' advance notice of your intention to renew. Most landlords do not accept leases that are less than 1 year period.