This office lease clause states that the amount of the security deposit shall be increased to reflect the increase in Base Rent. The Owner shall at all times have and maintain two full months' Base Rent as security.
Massachusetts Clause Providing for the Periodic Increase in the Tenant Security to Reflect Increases in Base Rent
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FAQ
An escalator clause (also known as an escalation clause or a laddering clause) is a clause or provision in a lease or contract that allows pricing or wages to be adjusted to account for changing market conditions, such as inflation or tax fluctuations.
CPI Based Escalation With this type of rental escalation, your rent rate increases when an established index (such as Variable Consumer Price Index) rises. Often, the index used is the Consumer Price Index. Under indexed escalations, if inflation is 1%, your rent increases by 1%.
A CPI adjustment clause in a lease is a provision that allows the landlord to increase the rent based on the changes in the CPI. Usually, the clause specifies the base rent, the base CPI, the frequency of adjustment, the maximum and minimum percentage of increase, and the formula for calculating the new rent.
A commercial escalation clause is always included in commercial real estate leases. It allows the landlord to increase the rate of your rent ing to a specific timeline or ing to certain triggers included in the clause.
Regarding tenancies-at-will, Massachusetts law mandates that landlords provide tenants with at least 30 days' notice before raising rent or if longer, a period equivalent to the frequency of rental payments.
What Is a Graduated Lease? A graduated lease is an agreement under which a tenant and landlord agree to a periodic adjustment of monthly payments. For example, the agreement may reflect an increase in the tenant's payments due to market conditions or an increase in the value of the leased property.
Variable CPI Rent Increase Also known as indexed rental escalation, this type increases the base rent to keep up with inflation.
?A landlord must return a tenant's security deposit and any interest, minus any portion that was rightfully subtracted, within 30 days after the tenant moves out.?
