LEASING

Most of the time, the leases are organized under two rent calculation methods, and those are net and gross. The gross lease mainly means a tenant needs to pay a hefty amount for rent, from where the landlord gets to pay for his expenses. The net lease, on the other hand, comprises of smaller form of base rent. Here, the tenant is asked to pay for the other expenses and the landlord will not take a look at the billing of electricity, water or other similar services.

A perfect combination of gross and net can lead to modified gross lease. However, the terms are said to vary from one building to another. The basic overview can always help the businesses to shop for only the right deals available around here.

Legal breakdown of lease:

Leases are mostly termed as legal and binding contracts, which can set forth some of the important rental agreements, in the field of real estate. If you wish to rent any residential property or apartment, then you have to follow the lease, as prepared by the landlord. In this lease contract, you will come to learn more about the monthly rent amount to be paid, the time in every month when you need to pay for it, the results if you fail to pay the rent on time and the security deposit you need to pay for staying.

On the other hand, the lease will also talk about the duration of your stay and it you are allowed to keep pet on the premises. It can further talk about the number of occupants who can live under one house along with some other essential information. It is mandatory for the landlord to talk with the tenant and let him sign the lease upon agreeing with the terms and conditions, as mentioned.