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A rental agreement or lease may include a "rent review" clause which makes provision for the rental amount to be increased, the process for the landlord to provide notice of a rent increase and the options available to the tenant regarding acceptance or rejection of the proposed increase. [3]
A Lease-Purchase Contract, also known as a lease purchase agreement or rent-to-own agreement, allows consumers to obtain durable goods [1] or rent-to-own real estate [2] without entering into a standard credit contract. [1] It is a shortened name for a lease with option to purchase contract.
The narrower term 'tenancy' describes a lease in which the tangible property is land (including at any vertical section such as airspace, storey of building or mine).A premium is an amount paid by the tenant for the lease to be granted or to secure the former tenant's lease, often in order to secure a low rent, in long leases termed a ground rent.
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Inserts an inline link to the [[Illinois Compiled Statutes]], the numbering system used since 1992 for [[statute law]] in [[Illinois]]. All statute laws still in effect as of July 1992, or enacted later, are classified under this system. Template parameters [Edit template data] Parameter Description Type Status chapter 1 chapter number: before the "ILCS" in citations Number required act 2 act ...
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