Extending a lease on a property question

[BrendonJ]

If an individual owns a property and the lease is getting low (say 60 years) then as I understand it you just have to contact the Landlord to extend it and agree the price to extend it (and you have to pay the landlord's legal costs?)

However if a company owns that residential property can they still apply to extend the lease in the same way?

Many thanks

[FUBAR]

Yes