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How much: Rent may be payable monthly, annually, or in advance, or as otherwise agreed. A typical arrangement for tenancy at will is "first and last month's rent" plus a security deposit. The "last month's rent" is rent that has yet to be earned by the landlord. A rental agreement or lease may include a "rent review" clause which makes ...
The "last month's rent" is rent that has yet to be earned by the landlord. In accordance with this, a lease agreement usually includes other critical financial obligations. [14] These factors build upon the basic understanding of rent remittance and are integral to the agreement: The overall rent to be paid; Potential security or pet deposits;
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[1]: 907 Whatever form the rent takes—and it cannot take the form of services [1]: 907 —it must be definite or ascertainable. It may be agreed upon expressly or impliedly. The parties may nominate a third party to fix the rent. (See the Southernport Development and NBS Boland cases mentioned above.) This is, however, subject to a proviso ...
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