Lease Agreement
Definition of "Lease agreement"
A contract between a lessor and a lessee to use property for a specified time period at an agreed to rental charge.
- Gross lease: A total amount of rental dollars from which the landlord must pay all taxes, utilities, insurance, and other costs.
- Month-to month lease: there is no formal lease agreement between the landlord and the tenant. Typically, the landlord must provide a one-month notice before canceling the lease.
- Net lease: A lease in which the tenant must pay all the related property costs including insurances, taxes, utilities, and others.
Popular Real Estate Terms
Local zoning law or private limitation on how far in feet a structure might be situated from the curb or other appropriate marker. ...
Lease that incorporates increases in agreed-on payments over the term of the lease contract. For example, a particular step-up lease may require that the lessee pay a 10% increase each year ...
A fixed marker or monument, either erected or naturally occurring, which serves as a boundary line for a parcel of land. For example, a stream on the eastern edge of the property serves ...
Legal mechanism available for a person who is over his head financially and is unable to meet his financial obligations. ...
Proposing or presenting for acceptance a price for a property parcel. Evidence of willingness to enter into a sales agreement. The bid price in a real estate or security ...
Local governmental ordinance breaking down the country into districts that are restricted on how private property is to be constructed and used. It applies to the land and buildings. The ...
Formal statement by an auditor, after through examination and consideration, as to whether a real estate company's financial statements fairly present financial position and operating ...
Timeshare homes is the popular name given to the concept of fractional ownership in real estate, and, in fact, is a better term to explain its meaning.Why?Well, fractional ownership means ...
Heading of a document, such as a real estate report. ...
Have a question or comment?
We're here to help.