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Replace Alternative Choice in the Standard Lease Form

Replace Alternative Choice in the Standard Lease Form

Aug 6th, 2022

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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.

What is a lease that provides for specific changes?

This is known as a lease addendum. This type of lease change means the landlord and tenant both agree to amend a certain part of the contract they signed.

What are the three basic types of leases depending on the type of property?

The three most common types of leases are gross leases, net leases, and modified gross leases.

What are examples of leasehold improvements?

A leasehold improvement is anything that benefits one specific tenant, usually in a commercial property. This includes painting, adding new walls, putting up display shelves, changing flooring and lighting, and the addition of offices, walls, and partitions.

What are three common types of leases?

The three main types of leasing are finance leasing, operating leasing and contract hire.

What is a suitable replacement tenant?

2) A suitable replacement tenant is a person/s who the landlord has deemed to be acceptable after an application process has been completed. This can involve obtaining references, credit checks and a suitable guarantor.

Are there different types of leases?

There are different types of leases, but the most common types are absolute net lease, triple net lease, modified gross lease, and full-service lease. Tenants and proprietors need to understand them fully before signing a lease agreement.

What is an example of exclusive use clause in a commercial lease?

Consider this provision: landlord shall not enter into a lease for premises within the shopping center with a tenant that will use its premises to sell coffee. This provision could certainly be interpreted to prevent any other tenant in the shopping center from serving coffee at all.

What is the name given to a lease that ends automatically and neither party is required to give notice?

An estate for years is a lease with a specific beginning and ending date. At the end of the lease, the tenant is expected to vacate the property. Neither the tenant nor the landlord is required to give notice to terminate this lease as the end date is specified at the beginning.

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