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A lease option (more formally Lease With the Option to Purchase) is a type of contract used in both residential and commercial real estate.In a lease-option, a property owner and tenant agree that, at the end of a specified rental period for a given property, the renter has the option of purchasing the property.
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]
[1] Flat roofs are an ancient form mostly used in arid climates and allow the roof space to be used as a living space or a living roof. Flat roofs, or "low-slope" roofs, are also commonly found on commercial buildings throughout the world. The U.S.-based National Roofing Contractors Association defines a low-slope roof as having a slope of 3 in ...
Satari: A Swedish variant on the monitor roof; a double hip roof with a short vertical wall usually with small windows, popular from the 17th century on formal buildings. [citation needed] (Säteritak in Swedish.) Mansard (French roof): A roof with the pitch divided into a shallow slope above a steeper slope. The steep slope may be curved.
In a standard Lease-Purchase Contract, the two parties agree to a lease period during which rent is paid, and the terms of the sale at the end of the lease period, including sale price. Often, the contract is structured in two parts, one representing the lease term and the other a contract of sale.
Flat roofs actually slope up to approximately ten degrees to shed water. Flat roofs on houses are primarily found in arid regions. [2] In high-wind areas, such as where a cyclone or hurricane may make landfall, the main engineering consideration is to hold the roof down during severe storms. Every component of the roof, as of course the rest of ...
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The most common form of real property lease is a residential rental agreement between landlord and tenant. [7] As the relationship between the tenant and the landlord is called a tenancy, this term generally is also used for informal and shorter leases. The right to possession by the tenant is sometimes called a leasehold interest.
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