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Which kind of lease is commonly found in retail properties?

Gross Lease Gross leases are most common for commercial properties such as offices and retail space. The tenant pays a single, flat amount that includes rent, taxes, utilities, and insurance. The landlord is responsible for paying taxes, utilities, and insurance from the rent fees.

What does leased premises mean?

A leasehold property is a property that a lessee or tenant agrees to rent from a lessor for a predetermined period. Its like having a house for a set amount of time without owning the land. The leasehold premise eventually belongs to the propertys original owner.

What is the legal definition of leased premises?

Leased Premise means the specific area of the Building, Land and/or Improvements, collectively, being leased by the Tenant, the boundaries and location of which are shown outlined in APPENDIX B: PLAN OF LEASED PREMISES attached hereto.

What is the meaning of leasehold premises?

Premises Lease means a lease, an agreement to lease, a sublease, a licence agreement and an occupancy or other agreement under which the Vendor has the right, or the Vendor has granted to another Person the right, to use or occupy any Leased Premises.