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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.
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.
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.
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.
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.
When you lease a car, you pay for the right to drive the vehicle for a fixed period — typically three or four years. Most leases are financed through the dealer. Most leases are financed through ...
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.
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 ...
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