Lease Agreement | Real Estate Glossary

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.

Insurance that offers blanket coverage up to a certain dollar amount on all property of the classifi ...

Strip of land that separates one land use from another. ...

Single-family dwelling attached to other units by common walls. ...

Metropolitan locality such as a city. It is heavily populated with many residents and businesses. An ...

Same as term Office Burglary and Robbery Insurance: coverage for the office of a business, or an ind ...

Market in which buyers dominate trading and force financial asset prices up. ...

Principal is the amount of money borrowed and still owed on a loan not including the interest. ...

An index is an economic indicator used to set the rate for adjustable-rate mortgages. ...

A sales contract is the contract you draw up when you want to make an offer on a home. ...

A loan-to-value ratio is used by lenders to state how much you have financed. If you put down 20 per ...

A Good Faith Estimate is when a lender must give a prospective homebuyer a written estimate of closi ...

Whole life insurance insurance provides the coverage amount to your beneficiary in the of your death ...

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