Types of leases

A lease is found in which of the following properties?

. Residential properties . Industrial properties . Commercial properties

A hold over tenancy cannot extend beyond how many months ?

12 months

According to HUD, what is a reasonable occupancy standard per bedroom...?

2 occupants

Graduated Lease

A graduated lease is an agreement under which a tenant and landlord agree to a periodic adjustment of monthly payments. For example, the agreement may reflect an increase in the tenant's payments due to market conditions or an increase in the value of the leased property.

Gross Lease

A lease of property according to which a landlord pays all property charges regularly incurred through ownership, such as repairs, taxes, insurance, and operating expenses. Most residential leases are gross leases.

Net Lease

A lease requiring the tenant to pay not only rent but also costs incurred in maintaining the property, including taxes, insurance, utilities, and repairs.

Periodic Tenancy

A lease that automatically renews for successive periods unless terminated by either party; also called estate from year to year.

Percentage Lease

A lease, commonly used for commercial property, whose rental is based on the tenant's gross sales at the premises; it usually stipulates a base monthly rental plus a percentage of any gross sales above a certain amount.

Tenancy at will

A property tenure that can be terminated at any time by either the tenant or the owner (landlord). It exists without a contract or lease, and is unspecific in duration or the exchange of payment.

Leasehold Estate

A tenant's right to occupy real estate during the term of a lease, generally considered to be a personal property interest.

Ground Lease

An agreement for the use of the land only, sometimes secured by improvements placed on the land by the user.

Estate for years

An interest in lands by virtue of a contract for the possession of them for a definite and limited period of time. May be for a year or less. A lease may be said to be an estate for years.

A valid lease must include which of the following?

Consideration

In this type of lease, there is a defined specific beginning date and an ending date for a specific term. ... The lease cannot be terminated before expiration unless both parties agree.

Estate for years

A tenants right to occupy during the term of the lease is known as a?

Leasehold estate

A lease requiring a lessee to pay charges against the property such as taxes, insurance and maintenance costs in addition to rental payments is known as?

Net lease

A lease that automatically renews for successive periods unless terminated by ether party is known as ?

Period tenancy

A Leasehold Estate is generally considered ?

Personal property

Which of the following is used as a means of security by the landlord for any physical damage done by the tenant to the property?

Security deposit

If an individual continues to occupy a property after the property was sold at a foreclosure sale, that individual is said to occupy the property as a?

Tenancy at sufferance

XYZ company is looking to rent an entire office building for the long term. What type of lease may the building owner most likely offer to XYZ company?

Triple net lease

A lease in which the lessor pays all costs of operating and maintaining the property and real property taxes is known as a...?

gross lease

Lessor

landlord

An owner who enters into a lease agreement with a tenant is referred to as a...?

lessor