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What is difference between NNN lease and gross lease?
In a NNN lease the tenant (person leasing the property) is liable for the taxes, insurance, and CAM (Common Area Maintenance) expenses. In a Gross Lease, the tenant pays a fixed amount of rent to the Landlord and has no other expenses to pay.
When a tenant breaks a residential lease can the landlord charge rent until the lease expires or the landlord finds a new tenant?
Yes, unless the landlord breached the lease in some significant way.
Does a lease agreement have to be signed by the owner and tenant?
yes !
Can a tenant sue a landlord who is in bankruptcy?
Normally the bankruptcy filing has nothing to do with whether or not the tenant has paid his rent. A landlord does not have the right to evict a tenant simply because the tenant filed chapter 7 unless that is part of the lease. The terms of the lease determine if the tenant will be evicted. If the tenant pays the rent, he should not be evicted.
What is a Accelerated Rent?
If a tenant defaults on a lease (e.g., failure to pay rent on time, damage to the premises, keeping a pet when it is not part of the lease, etc. ) then the lessor can evict the tenant. At that point, the lessor can demand the full balance of the lease be paid immediately.Enforceability varies from state to state. You should see a lawyer specializing in landlord/tenant law if you are caught in this situation.Avoid any lease that has what appears to be an "Acceleration" clause.
Who pays tenant utilities on a lease?
The landlord pays tenant utilities. The full service gross (FSG) rental rate includes a set amount that should be allocated towards the payment of utilities, but ultimately it is up to the landlord to pay any and all utilities.
What type of lease when tenant pays utilities?
In a gross lease, the landlord typically covers all property expenses, including utilities. In contrast, a net lease, such as a single net lease, allows the tenant to pay for some or all utilities separately, along with other costs like property taxes and insurance. Therefore, if the tenant is responsible for paying utilities, it is often indicative of a net lease arrangement.
What is difference between NNN lease and gross lease?
In a NNN lease the tenant (person leasing the property) is liable for the taxes, insurance, and CAM (Common Area Maintenance) expenses. In a Gross Lease, the tenant pays a fixed amount of rent to the Landlord and has no other expenses to pay.
Does tenant has to pay utilities charges Under triple net lease .?
Triple Net Lease - with a triple net lease the tenant pays a base rent, taxes, insurance and also any charges for repairs and maintenance of the property.
Industrial gross lease?
An industrial Gross Lease is an arrangement where the tenant pays rent plus a share of services. Taxes and insurance are already included in the base rent.
What does full service gross mean?
Full service gross refers to a type of commercial lease in which the landlord covers all operating expenses associated with the property, including utilities, maintenance, property taxes, and insurance. The tenant pays a single, all-inclusive rent amount, making budgeting simpler as they don't have to manage variable costs. This arrangement is often attractive to tenants who prefer predictable expenses.
What is a modified net lease?
The modified net lease is a compromise among the gross lease and the triple net. The landlord and tenant usually set up a divide of maintenance expenses, while the tenant agrees to pay taxes and insurance.
Can I break a lease agreement if I discovered the landlord lied about utility coverage and responsibilities of fruit trees?
The only time you can break a lease, or quit, if you will, is when the breach of the lease is material. If your lease states the landlord is responsible for utilities and subsequently failed to pay, which resulted in services being disconnected, you may have the ability to quit the lease. Part of a landlords duties is to keep utilities on at all times while a tenant is living on their property.
Can a tenant dreak a lease if tenant has bankruptcy?
No.
What are the key considerations to keep in mind when drafting a multiple tenant lease agreement?
When drafting a multiple tenant lease agreement, it is important to consider the following key factors: clearly defining the responsibilities of each tenant, outlining how rent will be divided among tenants, specifying rules for common areas and shared utilities, addressing potential disputes and how they will be resolved, and ensuring all tenants are aware of and agree to the terms of the lease.
Can a tenant live in an apartment without electricity?
If the terms of the lease include that the tenant must have electric and the tenant is in violation of the lease terms you can evict him.
Can a tenant be evicted if the property is acquired through divorce?
not till the tenant violates the lease or the lease expires
