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A rental agreement or lease may include a "rent review" clause which makes provision for the rental amount to be increased, the process for the landlord to provide notice of a rent increase and the options available to the tenant regarding acceptance or rejection of the proposed increase. [3]
Minimum lease payments are rental payments over the lease term including the amount of any bargain purchase option, premium, and any guaranteed residual value and excluding any rental relating to costs to be met by the lessor and any contingent rentals. Leased asset is depreciated in books of lessee over its useful life if lessee intends to ...
In general, by paying the negotiated fee to the lessor, the lessee (also called a tenant) has possession and use (the rental) of the leased property to the exclusion of the lessor and all others except with the invitation of the tenant. The most common form of real property lease is a residential rental agreement between landlord and tenant. [7]
A month-to-month lease is not always the cheapest rental option. Vicky Noufal, owner and associate broker at Platinum Group Real Estate , said the average monthly price of a two-bedroom rental is ...
A lease is a contract calling for the lessee (user) to pay the lessor (owner) for use of an asset for a specified period of time. [4] A rental agreement is a lease in which the asset is tangible property. [5]
Renting, also known as hiring [1] or letting, [2] is an agreement where a payment is made for the use of a good, service or property owned by another over a fixed period of time. To maintain such an agreement, a rental agreement (or lease) is signed to establish the roles and expectations of both the tenant and landlord.