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In May 2014, the city of Berkeley was the first rent control city in California to adopt a smoke-free multi-unit housing law with a city enforcement mechanism in place that covers all newly initiated leases while encouraging those with existing leases to sign a new non-smoking lease addendum on a voluntary basis.
Additional rent is a term used in commercial real estate to describe a variety of rent-like cash flows from tenants that are not part of the traditional base rent. In retail settings, especially shopping malls , these often include percentage rent and various recoverable expenses .
Common area maintenance charges (CAM) are one of the net charges billed to tenants in a commercial triple net (NNN) lease, and are paid by tenants to the landlord of a commercial property. A CAM charge is an additional rent, charged on top of base rent, and is mainly composed of maintenance fees for work performed on the common area of a property
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.
There are several factors used to determine the riskiness of a lease, including remaining term on the lease and creditworthiness of the tenant. [7] In one variation of a NNN lease contract, the "bondable NNN lease" (sometimes referred to as a "true triple net" or "absolute triple net" lease), the tenant cannot terminate the lease or seek any ...
In commercial real estate, a tenant inducement (TI) is some sort of consideration given by a landlord in order to attract a new tenant or have an existing one renew their lease. Depending on the contents, the concept may be known as a concession or rent abatement, instead of inducement. There are several different forms of inducements.
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