Definition of "Reappraisal lease"

Donna Gentle real estate agent
Donna Gentle, Real Estate Agent Berkshire Hathaway HomeServices

lease computed as a percentage of the underlying appraised property value. Under the terms of a reappraisal lease, the rent is periodically adjusted using an independent appraisal of the property. For example, a commercial reappraisal lease provides that the rental terms can be adjusted every three years based on an independent property appraisal.

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