Cut off point in a Standard Lease Rental Agreement - Online Editor

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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What is the best lease length for an apartment?

A lot of landlords will recommend doing a year lease for your first year to help reduce turnover costsjust make sure your tenant screening process is strong.

Which is not a necessary element of a lease?

Final answer: A valid and enforceable lease requires consideration, contractual capacity, and mutual agreement. A security deposit is not a necessary element.

What does lease agreement mean?

A lease agreement is simply a contract between a landlord and a tenant that states what the tenant will pay monthly for rent and for how long.

What is the breakpoint of a lease?

The point at which percentage rent is paid is called a breakpoint and can either be a natural or artificial breakpoint. If the breakpoint is never met, the tenant is only obligated to pay the minimum rent. An artificial breakpoint is simply a dollar amount of sales both parties agree on.

What elements are required for an offer to be effective under the common law?

The offer must be clear and definite, and it must be communicated to the other party. The offeree must then accept the contract terms of the offer, which can be done explicitly or implicitly. If the offeree accepts the offer, a binding contract exists, and that contract will be enforced by common law.

Which of the following is not a standard requirement found in a lease agreement?

Explanation: The requirement that is NOT a standard requirement found in a lease agreement is D) The tenant must have a high school diploma. Lease agreements are legal documents that outline the terms under which one party agrees to rent property from another party.

What is the break even point on a percentage lease?

Break-even Point The break-even point specifies how much sales must be generated in a month above which a percentage of the sales will be given to the landlord as additional rent. For example, a break-even point of $500,000 means that the landlord will capture a percentage of sales above $500,000.

Which of the following is not required for a contract to be valid?

Final answer: For a contract to be valid, it must include an agreement, consideration, competent parties, and a lawful object. The presence of a legal document, while useful in formalizing a contract, is not an essential requirement for contract validity. Option C is correct.

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