An arrangement where a landowner funds the construction of a building tailored to a tenant's specifications on their land, subsequently leasing the land and building to the tenant.
Contract Rent refers to the amount of rent that has been explicitly stipulated in a lease agreement between a tenant and a landlord.
Dispossess refers to the act of ousting, ejecting, or excluding another party from the possession of lands or premises. This can occur through legal processes or wrongful actions.
A holdover tenant is an individual who remains in possession of leased property after the expiration of their lease term. This concept is often associated with tenancy at sufferance.
Homeownership refers to the state of living in a structure that one owns, rather than renting or serving as a tenant. Owning a home provides financial stability and potential asset appreciation over time.
A landlord is a property owner who rents out their property to another party, known as the tenant, in exchange for rent. The landlord retains ownership of the property while granting the tenant the right to use it as specified in a lease agreement.
The lessee is an individual or entity that rents or leases an asset or property from another party (the lessor) for a stipulated period and at an agreed price.
A payment made for the use of land or property, usually, but not necessarily, based on a lease agreement. Rent is typically paid on a periodic basis and provides tenants the right to temporary use and occupancy of certain real property.
The revaluation clause, also referred to as a reappraisal lease, is a provision in a lease agreement that allows for periodic reassessment of the rental value of the leased property. This clause is often used to ensure that rental payments reflect the current market value of the property, protecting the interests of both the landlord and the tenant.
A security deposit is a nontaxable cash payment received by a landlord to be held during the term of a lease to offset damages incurred due to actions of a tenant.
A tenant is an individual or entity who leases or occupies a premises, land, or estate under various terms and rights.
