Lease
Contract granting possession for rent.
Public flashcard set
Real Estate Leases & Property Mgmt
Landlord-tenant vocabulary.
real-estate exam career
Flashcards
Lessor / lessee
Landlord / tenant.
Gross lease
Tenant pays rent; landlord pays many expenses.
Net lease
Tenant pays some/all expenses + rent.
Percentage lease
Rent includes % of business sales.
Security deposit
Funds held for damages/default.
Eviction
Legal process to remove tenant.
Constructive eviction
Unlivable conditions force tenant out.
Assignment
Tenant transfers entire remaining lease.
Sublease
Tenant rents to another while remaining liable.
Quiet enjoyment
Tenant's right to possess without interference.
Habitability
Landlord duty to keep livable premises.
Property manager
Agent operating rental for owner.
Vacancy rate
Share of empty units.