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Countable noun. A lease is a legal agreement by which the owner of a building, a piece of land, or something such as a car allows someone else to use it for a period of time in return for money.
out inspection done by landlord and tenant together is not required by law but is strongly advised. A tenant should have a copy of the movein inspection to verify the condition of the premises at moveout. Appropriate photographs can be taken.
A lease renewal letter should include the following information: Landlord/Property manager name and address. Tenant name and address. Date of letter. Rental term. Monthly rent amount. Rent increase/decrease (if necessary) Landlord/Property manager's signature.
While leasing and renting share many similarities, there are some subtle distinctions between the two. The main difference is the length of tenancy. A rental agreement is usually short term or month-to-month, while a lease is typically for a longer period of time, usually six months or more.
A Lease can be defined as a contract where a party being the owner (lessor) of an asset (leased asset) provides the asset for use by the lessee at a consideration (rental), either fixed or dependent on any variables, for a certain period (lease period), either fixed or flexible, with an understanding that at the end of ...
Site Lease Agreement means the agreement between Owner and Landlord, whether license, lease or otherwise, whereby Owner acquires the right to occupy, build and operate a Site on Landlord's property.
Lease Termination and Evictions in Connecticut A landlord may send an eviction notice to their tenant on a periodic lease if they wish. However, they must make sure that they provide at least three days of notice for eviction in cases of weekly or monthly leases.
Lease Term Definition Defined as the period of time in which a contracted lease is in place, lease term establishes the time period to both the lessee and lessor. Lease terms generally come on 3 forms: fixed, periodic, and indefinite. Additionally, a lease can cover either material or non-material property.