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A fixed-term lease is the most traditional lease. Theyre called fixed term because tenants and landlords are agreeing to abide by the lease for a fixed amount of time, normally six to 14 months.
The most common terms for a short-term lease are six months or three months. This lease length is ideal if youre working or studying in a new area for a short period of time. For those looking for a longer-term approach, some apartments also offer 18-month leases or even two-year leases.
The Landlord and Tenant are collectively referred to in this Agreement as the Parties. HEREINAFTER, the Tenant agrees to lease the Premises from the Landlord under the following terms and conditions: 2. PROPERTY. The Landlord hereby leases the property located at: [PROPERTY ADDRESS] to the Tenant (the Premises).
The most common type of lease contract in residential real estate is Gross Lease. In a gross lease, the tenant pays a fixed amount of rent, and the landlord is responsible for paying all the expenses associated with the property, including property taxes, insurance, and maintenance costs.
Leases are generally legally binding contracts between the lessor and the lessee. They involve a piece of property rented out by the owner (lessor) to the tenant (lessee). Leases can be verbal agreements but are usually drawn up in writing.
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Most commercial leases involve a lessor or a lessee. The lessor is the landlord or the party leasing out the property. Lessors rent property to a lessee.
In a sales contract, the parties are the seller(s) and buyer(s) of the real estate, who are often called the principals to distinguish them from real estate agents, who are effectively their intermediaries and representatives in negotiation of the price.

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