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This document is a residential lease agreement that outlines the terms and conditions between a landlord and tenant for renting a property in Virginia. It specifies that the lease is not governed by the Virginia Residential Landlord Tenant Act, details the premises being leased, the lease term, rent payment structure, responsibilities of both parties regarding maintenance and utilities, rules about pets, and procedures for termination of the lease. It also includes provisions for security deposits, access to the premises, insurance requirements, and legal obligations related to non-compliance or emergencies.

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What are the 2 types of leases?

The two most common types of leases are operating leases and financing leases (also called capital leases).

What are the 3 main types of lease?

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

What are the 5 types of leases?

Different Types of Leases Absolute Net Lease. An absolute net lease typically pushes all the expenses to the Tenant, including taxes, insurance, maintenance, roof, structural, and parking lot maintenance and repair. ... Triple Net Lease. ... Modified Gross Lease. ... Full Service Lease.

What are the 4 primary types of leases?

There are, in general, four types of leases: the gross lease, the modified gross lease (or net lease), the triple net lease, and the bond lease.

Is standard lease agreement mandatory in Ontario?

Yes, the Ontario Standard lease is mandatory for landlords. All residential tenancies in the private rental market that started on or after April 30, 2018, are required to have the lease.

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What happens at the end of a common law tenancy?

If a common law tenancy has a fixed term, upon expiry of that term the tenant's right to possession ceases and the landlord becomes entitled to possession.

Is a 2 year lease legal in Ontario?

Normally people have a rental lease agreement for a year or sometimes for 2 years. What is in the Ontario standard lease agreement? According to new laws in Ontario, every private residential tenancy must have a standard lease agreement.

What are the 3 main types of lease?

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

What is the most common type of lease?

Triple Net Lease: It is one of the most common lease types.

Can you end a periodic tenancy?

Notice periods for ending a periodic tenancy. A tenant must give at least 28 days' written notice to end the tenancy, unless the landlord agrees to a shorter time. This agreement should be in writing.

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What are the 2 types of leases?

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What are the 5 types of leases?

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