A co-occupant arrangement is an agreement between two or more unrelated individuals to share a dwelling unit. This document typically delineates the financial responsibilities, rights, and obligations of each tenant to avoid disputes.
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.
An index lease is a rental agreement that adjusts the rent based on a published record of cost changes like the Consumer Price Index (CPI). This helps maintain the rent's real value over time despite inflation.
A less than freehold estate refers to an estate in land that has a predetermined time span, most commonly associated with leases and leasehold properties.
A Month-to-Month Tenancy Lease is a rental agreement that can be extended or terminated each month by either party, providing flexibility for both landlords and tenants.
A rental agreement, often referred to as a lease, is a legal contract between a landlord and a tenant that outlines the terms under which the tenant agrees to rent a property owned by the landlord.
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.
A tenancy from year to year, also known as a periodic tenancy, is a rental arrangement that continues for an indefinite duration, typically requiring a notice period for termination. This type of tenancy renews automatically at the end of each period (generally a year), unless either the landlord or tenant gives proper notice to terminate the lease agreement.
In real estate, to 'vacate' means for a tenant to terminate occupancy and leave the premises, usually at the end of a lease term or after giving proper notice. It involves removing all personal possessions and handing back the property to the landlord.
