Definition
Renewals commonly happen 60 or 30 days before term-end. A renewal locks in a new term and rent; failure to renew typically drops the resident to month-to-month.
Renewals commonly happen 60 or 30 days before term-end. A renewal locks in a new term and rent; failure to renew typically drops the resident to month-to-month.
A resident renews for 12 months at $2,100 rent, effective the day after the current term ends.
Charges beyond base rent that the lease treats as rent for enforcement purposes.
Verifying credit, eviction history, income, and references for a rental applicant.
Net operating income divided by property value, expressed as a percentage.
The pro-rata share of shared-space upkeep charged to commercial tenants.
The state of a resident being past due on rent or other lease charges.
Money held by a third party until a specific condition is met.