Definition of "Lease agreement"

Tina Biggins real estate agent

Written by

Tina Bigginselite badge icon

Premier Properties Of Hilton Head Island

A contract between a lessor and a lessee to use property for a specified time period at an agreed to rental charge.

  1. Gross lease: A total amount of rental dollars from which the landlord must pay all taxes, utilities, insurance, and other costs.
  2. 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.
  3. Net lease: A lease in which the tenant must pay all the related property costs including insurances, taxes, utilities, and others.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

The grantee who is the tenant of a life estate. When the tenant dies, the estate goes back to the grantor. For example, President Eisenhower and his wife, Mamie, were life tenants of the ...

Amount awarded by a government when a person's property is condemned and he must move. ...

Mortgage loan not insured or guaranteed by a governmental agency such as the Federal Home Administration or the Veterans Administration. This type of loan is repayable in fixed monthly ...

Designing a home with a Spanish cultural flavor. ...

Regarding the definition of the term adjoining, we see a term used most often to describe a particular position that objects, items, or properties have regarding each other. In the case of ...

Restoring real property to an improved state. The restoration is usually needed because the property's condition has worsened. ...

A narrow passageway between buildings providing secondary rear access. ...

Right to substantive real or personal property having tangible body and form. For example, a corporeal right to a house, property, furniture, or fixtures. ...

The float has several meanings in the financial world and the real estate terminology. Typically, the float refers to the number of funds, represented by checks, that an institution or an ...

Popular Real Estate Questions