Real Estate Law
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I'm Lucy, and I'd be happy to answer your questions today. I'm sorry to hear about your situation.
Unfortunately, yes, that clause is binding on you. An option to renew means that it's up to them whether they'd like to stay for an additional year. Because you signed that lease, you're bound by the option clause.
You could try offering the tenant an incentive to terminate the lease and move out - basically meaning that you could tell them you want to move out and see if they will accept a cash payment to waive the option and move out. How much to give would depend entirely on what amount you could agree was fair. That is one option available. If they decline, you unfortunately are obligated to continue renting the property to them for another year at the same price. You will not have to allow them to renew AGAIN at the end of the next year.
It's important that you are 100% satisfied with my courtesy and professionalism. Thank you.