Demised Premises refers to the property or section of property that is subject to a lease agreement. This term is commonly used in real estate and rental contracts, identifying the specifics of the leased property.
Pass-throughs refer to operating expenses that can be charged to a tenant along with the usual rent, as defined in the lease. Additionally, the term also relates to pass-through certificates in the context of mortgage-backed securities.
Renewal is the continuation in force and effect of a previously existing arrangement for a new period, either on the same or different terms.
A sublease is a rental arrangement in which the original tenant leases out part or all of the rented property to a new tenant.
A Tenant Finish-Out Allowance refers to the monetary compensation provided to retail or office tenants to accommodate their unique requirements for setting up their leased space, including modifications such as walls, partitions, and lighting installations. This allowance is typically provided by the landlord and is expressed in dollars per square foot.
