terminates the agreement before all pre-set terms are met. For example, if you are renting an apartment in a one-year lease, but you move out at nine months and are only paid up for nine months, you are breaking the lease. On the other side, if the lessor has agreed to rent you ...
What is a leasehold improvement? Depending on the length of a lease, chances are that some upgrades will be appreciated during a tenant’s time at a property. Often, these changes will be made prior to the tenant moving in. To be considered leasehold improvements, the work must be in the...
Open end lease: A lease in which the amount owed when the lease ends is based on the residual and realized values of the property. If the realized value is less than the residual value, the lessee may be required to pay all or some of the difference. If the realized value is greater ...
a commercial tenant is considered to be on equal footing with the landlord in negotiating a commercial lease agreement. Therefore, there are usually far fewer state protections in place that look out for a business tenant.
A lease is a contract between a lessor, who own a property, and a lessee, who is paying to temporarily occupy or use that property. This contract creates an agreement that both parties must abide by. Learn how leases work and why you need one. ...
If you are self-employed, it's likely you need to fill out an IRS Schedule C to report how much money you made or lost in your business. Freelancers, contractors, side-giggers and small business owners typically attach this profit or loss schedule to the
Can I return a lease car with damage? If the car is damaged, then you're in for a bill, because the leasing company will need to get it repaired. If you're in any doubt about its condition, then it's a good idea to contact the finance company before the vehicle is inspected to ...
A leasehold mortgage is a loan that's used to help a tenant to finance a project associated with land that he or she is leasing...
What is a Lease or Leasing? A famous quote by Donald B. Grant says, “Why own a cow when the milk is so cheap? All you really need is milk and not the cow.” This quote influences the concept of Lease. We can compare ‘milk’ with the ‘rights to use an asset’ and ‘cow’...
A 99-year lease is generally the longest possible lease term for a piece of real estate property. It used to be the longest possible under common law; however, 99-year leases continue to be common but are no longer the longest possible under the law. ...