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Retail Lease in Chicago. A retail lease is a legal document outlining the terms under which one party agrees to rent property from another party. A lease guarantees the lessee (the renter) use of an asset and guarantees the lessor (the property owner) regular payments from the lessee for a specified number of months or years.
When space allocated to multiple functions is significant, these buildings can be called multi-use. Local authorities commonly maintain strict regulations on commercial zoning , and have the authority to designate any zoned area as such; a business must be located in a commercial area or area zoned at least partially for commerce.
The narrower term 'tenancy' describes a lease in which the tangible property is land (including at any vertical section such as airspace, storey of building or mine).A premium is an amount paid by the tenant for the lease to be granted or to secure the former tenant's lease, often in order to secure a low rent, in long leases termed a ground rent.
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A lease in which the renter benefits from an increase in value of the asset is known as a finance lease. A leasing agreement which is not a finance lease is known as an operating lease. In housing, when a tenant rents an apartment but only pays for their room and the common space is a lease-by-room arrangement.
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Los Angeles County has opened its first safe parking location for recreational vehicles. The pilot has spaces for 14 RVs that can stay for up to six months while their owners seek permanent housing.
This is a list of shopping malls in the United States and its territories that have at least 2,000,000 total square feet (190,000 m 2) of retail space (gross leasable area). The list is based on the latest self-reported figures from the mall management websites, which are also reported on each mall's individual wiki page.