Renting
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Terms in Renting
Accessory Dwelling Unit (ADU)
An accessory dwelling unit (ADU) is a residential structure that shares the same lot as a primary structure. read more
Co-Tenancy Clause
A co-tenancy clause in retail lease contracts allows tenants to reduce their rent if key tenants or a certain number of tenants leave the retail space. read more
Deed of Surrender
A deed of surrender is a legal document that transfers property ownership and allows a party to relinquish any claims they held to it. read more
Implied Warranty of Habitability
An implied warranty of habitability is an unstated guarantee that a rental property meets basic living and safety standards. read more
Land Lease Option
A land lease option is the right but not the obligation for a renter to lengthen her use of a property beyond the term specified in the contract. read more
Lease Extension
A lease extension refers to a legal agreement extending the term of an existing lease or rental agreement. read more
Lease Option
A lease option is an agreement that gives a renter the choice to purchase the rented property during or at the end of the rental period. read more
Lease
A lease is a legal document outlining the terms under which one party agrees to rent property from another party. read more
Lessee
A lessee is a person who rents land or property and must follow restrictions and guidelines set by a lease agreement. read more
Lessor
A lessor is a person or other entity that owns an asset but which is leased under an agreement to the lessee. read more