Flat Lease


Definition of "Flat lease"

Lease agreement having level payments during the contractual period. It does not have an escalation clause to allow for increased costs due to increases in inflation, taxes, or other related costs. For a landlord, the flat lease is not suitable for an extended period of time since it does not provide for increases in payments.

Have a question or comment? We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 

Search Real Estate Terms

 

Popular Real Estate Terms

Straight Lease

Lease that requires periodic equal rental payments that will not charge for the term of the lease. A straight lease is also known as a flat lease. ...

Government Rectangular Survey

Way in which the U.S. government uses to subdivide public land. Land is designated as either a base line (East-West) or principal meridian line (North ...

Person

Individual with legal privileges and obligations. The legal term is sometimes used for a corporation. ...

Self-amortizing Mortgage

mortgage being reduced through periodic principal and interest payments. ...

Modified Accelerated Cost Recovery System (MACRS)

Term given to two depreciation systems defined by the Internal Revenue Service: The main system is called the General Depreciation System (GDS). U ...

Omnibus Clause

Provision in a will that stipulates that any assets not enumerated still pass to the heirs. Clause in liability insurance policies that extends c ...

Popular Real Estate FAQ

What Does Preapproved Mean?

When you are preapproved, you have a definite commitment from a lender ...

What Is A Loan Origination Fee?

A loan origination fee is a fee charged by the lender-usually 1 percent of the loan amount. ...

Besides Making My Monthly Mortgage Payment, How Can I Build Equity Into My House?

When making your monthly mortgage payment, try to send a little bit more. This will go directly to the principal of the loan rather than the interest ...

What Is A Credit Report?

A credit report is a report of all your debt information compiled by an independent agency. The credit report shows all outstanding debt as well as a ...

What Are Prepayment Penalties?

A penalty fee charged for paying off a mortgage early, thus allowing banks to still make money off of the loan in the event that you inherit a small f ...

What Is A REALTOR®?

A REALTOR® is an agent or agency that belongs to the local or state board of REALTORS® and is affiliated with the "National Association of REALTORS ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

Top Things to Budget for When Rehabbing a Flip House 7 Things to Consider Before Moving to a New City What Costs Do Buyers and Sellers Pay On Big Day When Escrow Closes? A Real Estate Agent’s Guide to Using Social Media Effectively Understanding the Housing Market on Your Own: How to Predict Local Real Estate Market Trends With no Help from an Agent

FAQ

What do I need to know about Pet Insurance? What is a credit report? Do I need Earthquake Insurance? What is an annuity? What do I need to know about Term Life Insurance?