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The document is a Lease Contract Guaranty form that outlines the responsibilities and liabilities of a guarantor for a lease agreement. It includes sections for lease contract information, guarantor details, and credit/rental history. The guarantor agrees to cover all obligations of the residents under the lease, including rent and associated fees, and acknowledges that their liability remains regardless of any changes to the lease. The document also requires notarization if the lease exceeds one year.

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How does a commercial land lease work?

Ground leases are used in commercial real estate. The real estate developer leases the land from the tenant for a period of up to 99 years. The developer makes improvements and at the end of the lease term, the improvements become property of the landowner.

Why do lenders not like ground leases?

Depends on the lender. Generally, ground leases are very unattractive from the lenders point of view because it is considered additional (and higher priority) structural financing and puts the lenders security at risk.

What does NAA stand for in property management?

National Apartment Association. The leading voice for the rental housing industry.

What are the disadvantages of a ground lease?

Tenant Disadvantages Costs associated with the ground lease process may be higher than if the tenant were to purchase a property outright. Rents, taxes, improvements, permitting, as well as any wait times for landlord approval, can all be costly.

What is the purpose of the NAA?

NAAs purpose is to support an industry that offers safe, affordable multifamily housing to the public, equitably compensates its workforce, and provides investors with a fair and reasonable rate of return.

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Who owns the land in a ground lease?

A ground lease is a long-term agreement in which a landowner rents their land to a tenant. The tenant often builds property on the land for business use and, in turn, pays rent to the landowner over a specified period.

What is NAA click and lease?

Click Lease is the industrys most comprehensive leasing solution backed by insight and advocacy of the National Apartment Association. Enjoy up-to-date information, unrivaled compatibility, and a simple process with a number of benefits.

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How does a commercial land lease work?

Why do lenders not like ground leases?

What does NAA stand for in property management?

What are the disadvantages of a ground lease?

What is the purpose of the NAA?

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Who owns the land in a ground lease?

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