Types Of Tenant Leases
Description
How to fill out North Carolina Supplemental Residential Lease Forms Package?
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FAQ
A tenant can make a written request at any time to assign their tenancy to someone else. The request should include the contact details of the person being proposed to take over the tenancy. Alternatively, the landlord can find a replacement tenant, although they don't have to do this if they don't want to.
Percentage leases are most often used with retail tenants. Multi-tenant retail properties, such as malls and shopping centers, use this type of lease because it benefits both parties involved.
A lease that requires only that basic rent be paid, usually on a monthly basis, is known as a ?gross lease?. Generally, a lease that requires that a Tenant pay additional expenses is known as a ?triple net? (?NNN?) lease.
Single-Net Leases: In this kind of lease, the tenant is responsible for paying property taxes. Double-Net Leases: These leases make a tenant responsible for property taxes and insurance. Triple-Net Leases: Tenants who sign these leases pay property taxes, insurance, and maintenance costs.
Assigning is allowing another person to take over the lease agreement. It can be done if there's a fixed term lease and the tenant needs to leave before the end date.