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The lease grants the Tenant the right to exclusive use of the garage and (optionally) a right of way over any land owned by the Landlord which gives access to the garage. The Tenant is to pay a monthly rent.
Yes, Microsoft Word has a free lease agreement template that you can customize to create your own contract and minimize any potential problems between tenant and landlord.
Finance Lease: 4 Types of Lease Financing Explained! Capital Lease: Operating Lease: Sale and Leaseback: Leveraged Leasing:
The three most common types of leases are gross leases, net leases, and modified gross leases. The Gross Lease. The gross lease tends to favor the tenant. The Net Lease. The net lease, however, tends to favor the landlord. The Modified Gross Lease.
An ideal rental agreement should cover the following clauses: Duration of the rent period. Monthly rent. Security deposit. Penalty for late payment of rent. Additional charges like maintenance, society, water, gas, etc to be borne by the tenant or landlord. Provision of parking, if applicable. Any damage or repair charges.
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