This is the 1317th most frequent Spanish word.
renovación
Renewal or renovation.
In this sentence, 'renovación' refers to the act of extending the validity of a contract by updating its conditions.
El contrato de alquiler está en proceso de renovación.
The rental contract is in the process of renewal.
Here, 'renovación' is used to describe the process of repairing or updating something, such as a building facade.
La renovación de la fachada del edificio le dio un aspecto moderno.
The renovation of the building's facade gave it a modern look.
In this context, 'renovación' implies a transformation or improvement in the approach or methods being used.