Lease Renewal Option
A clause allowing the tenant to extend the lease for additional terms.
by Sukhumalin July 11, 2025
Security Deposit
Money held by the landlord to cover potential tenant damages or unpaid rent.
by Sukhumalin July 11, 2025
Rent Abatement
A reduction or waiver of rent payments, often offered during repairs or lease negotiations.
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Base Rent
The minimum rent due before additional costs like taxes or maintenance.
by Sukhumalin July 11, 2025
CAM (Common Area Maintenance)
Fees paid by tenants to cover shared building expenses.
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Percentage Rent
Rent calculated as a percentage of tenant sales, common in retail leases.
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Subletting
When a tenant rents their leased space to another party.
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Option Agreement
A contract giving the right to buy property at a set price within a time period.
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Tenancy in Common
A form of co-ownership where each party owns an undivided share of the property.
by Sukhumalin July 11, 2025
Joint Tenancy
A form of co-ownership with equal shares and right of survivorship.
by Sukhumalin July 11, 2025
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