Ground rent lease means you own the house but someone else owns the actual property that the house sits on; therefore, you must pay the owner rent on that land. If you don't own the ground rent, you can purchase it.
A ground rent lease is a regular payment from the owner of a building to the owner of the land on which the building sits. The advantages vary greatly depending on the market at the time and the length of the lease.
Ground rent is a complicated real estate concept that is almost never used in the US. The advantages of a ground rent lease are that a perpetual income is derived from a property, the disadvantages of the ground rent is that it can make a property very difficult to sell.
No that is not the basic difference between the terms lease and rent. A lease is often a long term contract, where the details can't be altered. Rent is often more short term.
No, you are still obligated to pay your rent for the term of the lease
Lease administration is the managing and monitoring of real estate while a lease is in place. This includes ensuring rent is received on facilities that are owned and rent payments are made for that which they lease.
The risk of cosigning on a lease is that the cosigner is responsible for the rent for the leased property even if the other signers do not pay the rent. The landlord can go after one or all of the cosigners on a lease to get rent paid if the lease is not paid for the full term.
You will need a long term lease that lasts about 5 yeras with a rent to own home.
A rent or lease agreement is very secure and hard to get out of. A deal has to be made with the rental company to terminate the lease. These usually require getting somebody else to take over the apartment for the rest of the lease term.
Normally there is no such thing as Rent to Own of a dwelling. Usually it's rent with option to buy. The amount of money paid in rent may or may not count toward the costs of ownership. This all depends on the term of the lease. The Landlord has the right to decide not to sell the property at any time during or after the lease period.
Lease Rent discount is another method to obtain finance from bank or other lending institutes. Lease Rent Discount (LRD) consideration is between the borrower who owns the premises, the tenant who has rented the said premises or taken on lease and the bank or financial institute or Corporate. The rent is considered as fixed income over a stipulated time ie. Lease or rent period or tenure. The agreement is between the borrower and lender and the major term of repayment is the rent is directly deposited with the lender and not with the borrower. The Borrower is sanctioned a loan based upon the rent to be collected over the period of lease.
It depends on the term of your lease. If you had signed a one year lease, an additional year may be offered at a higher monthly rate. If you had signed a longer term lease, the landlord cannot increase the rent during the course of the lease unless specifically permitted in the lease.
I am not entirely positive. But I believe you would take the balance of the deferred rent liability at relating to the lease prior to expansion and amortize it over the remaining life of the new lease. If deferred rent liability was 10k as of 10/31/2011 and you extended the lease term for two years ending 12/31/2013 you would calculate the new straightline expense of the lease at time of the extension through the end of the lease term and determine the deffered rent liability as of 12/31/2011. Then add 10K/24 = 417X 2 = 834 to the 12/31/2011 deferred rent balance of the new lease You are debiting the deferred rent liability and crediting expense to decrease the deferred rent liability associated with the old lease.