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In December 2004, eBay purchased Rent.com for $415 million. [3] On May 8, 2012, RentPath, then known as Primedia, acquired Rent.com from eBay for approximately $415 million. [4] [5] [6] In June 2015, as part of an overall re-branding of Rent.com, the site launched its first national advertising campaign featuring comedian and actor J. B. Smoove ...
On April 5, 2021, RentPath was acquired by Redfin for $608 million. [60] RentPath rental home listings were to be integrated into Redfin.com by 2022. RentPath's headquarters remain in Atlanta and Fonseca remains in his role as CEO while the new owners seek a new permanent head.
A credit tenant lease (also known as a "bondable lease") is a method of financing real estate. [1] [2] A "credit tenant lease" is a lease from a landlord to a tenant that carries sufficient guarantees that lenders will perceive the rent cash flows from the lease are as reliable as a corporate bond. This typically requires that the tenant have ...
In June 2017, the company began Redfin Now, a home flipping division. [8] On July 28, 2017, Redfin became a public company via an initial public offering, raising $138 million. [9] In June 2019, Redfin began allowing buyers to submit offers on homes listed by Redfin's selling agents without using a buyer's agent. [10]
In commercial real estate leases in the United States, the tenant, rather than the landlord, is usually responsible for real estate taxes, maintenance, and insurance. In a "net lease", in addition to base rent, the tenant or lessee is responsible for paying some or all of the recoverable expenses related to real-estate ownership.
A triple net lease (triple-Net or NNN) is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three "nets") on the property in addition to any normal fees that are expected under the agreement (rent, utilities, etc.). In such a lease, the tenant or lessee is ...
If the lessor gives the lessee a cash allowance for improvements, this is treated as a reduction of rent and amortized over the lease term. Lease Bonus: Prepayment for future expenses. Classified as an asset; amortized using the straight-line method over the life of the lease. Rent Kicker, or Percentage Rent: Common in retail store leases.
Percentage rent, or a percentage lease, is a type of lease seen in commercial real estate. It is a rental charge based on the gross income of the tenant rather than a fixed monthly or annual value. In most examples, the percent rent only applies after a certain amount of base rent has been paid.
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