Familial status is a characteristic derived from a person's household type, including factors such as marriage and the presence of existing or prospective children. It is crucial in the realm of housing rights as outlined by the Federal Fair Housing Law and the Fair Credit Reporting Act. These laws prohibit discrimination against individuals under the age of 18 who reside with a parent or legal guardian, and they provide specific coverage for pregnant women.
A graduated lease is a type of lease agreement that allows for periodic changes in rent at pre-determined intervals, providing a systematic way to adjust rent in accordance with certain agreed-upon conditions.
A Military Clause is an option included in residential leases that allows a tenant currently serving in the military or reserves to break the lease without forfeiture of the security deposit in the event of a transfer or call-up to duty.
A Renewal Option in a lease agreement gives the tenant the right, but not the obligation, to extend the lease for an additional term under specified conditions.
The Rent-Free Period is a portion of the term of a lease during which no rent is required. It is typically offered by a landlord as a rental concession to attract tenants.
