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WAULT, short for weighted average unexpired lease term, is a measurement used in commercial real estate to quickly judge the value of contracted rents in a property, or more commonly, a portfolio of properties.
The time use of a chattel or other so called "personal property" is covered under general contract law, but the term lease also nowadays extends to long term rental contracts of more expensive non-Real properties such as automobiles, boats, planes, office equipment and so forth. The distinction in that case is long term versus short term rentals.
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.
Prohibits different treatment of month-to-month leases than fixed-term leases in terms of rent levels and fees. Extends ‘for-cause’ eviction protections to tenants with a long-term lease.
An MLA often has two "sides" or "legs", with different assumptions. One leg assumes the current tenant renews the lease with a set of given changes (or none), and the other assumes the tenant leaves the unit and a new tenant takes over. In the later case, it is normally assumed the lease terms will revert to market averages.
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.
Fixed budgets and flexible budgets are well-known concepts in business accounting. But you can also apply these budgeting principles to personal finance and your own spending. Keep reading to ...
Net Effective Rent, sometimes Net Effective Rate, or NER for short, is a measure of the expected income from a tenant, seen mostly in commercial real estate.It is the net present value of all the rental payments over the period of the lease, as well as any abatements or incentives that might add to or lower these payments.
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