Dispossess proceedings refer to the legal process initiated by a landlord to remove a tenant from a rental property and regain possession, typically due to non-payment of rent or violation of lease terms.
A Flat Lease is a rental agreement that stipulates a constant rental payment over the lease period, without any variations or escalations.
A graded lease, also known as a graduated lease, is a rental agreement that stipulates periodic increases in rent amounts over the lease term. This type of lease is often employed in commercial real estate to account for rising property values and inflation-related adjustments.
Leasehold value refers to the valuation of a tenant's interest in a property, especially beneficial when the rent is below the current market rates and the lease term is significant. It plays a crucial role in investment decisions where there is a discrepancy between market rent and the agreed lease rent.
A reappraisal lease (also known as a revaluation lease) involves periodically reassessing the value of the leased property to adjust the rent accordingly based on prevailing market conditions. This ensures both the lessor and lessee engage under fair market terms over the lease duration.
A Relocation Clause is a lease stipulation that allows a landlord to move a tenant to another location within the same building or complex. This clause provides flexibility for the landlord to maximize space utilization and cater to new tenants seeking specific floor plans.
A revaluation clause, often seen in reappraisal leases, allows for periodic reassessment of a property’s value during the lease term, enabling adjustments to rent reflective of current market conditions.
A straight lease, also known as a flat lease, is a type of rental agreement where the tenant pays a fixed rental amount through the duration of the lease term, regardless of changes in property expenses or other variables.
