A gross lease is a rental agreement where the landlord is responsible for paying all property expenses, including taxes, insurance, utilities, and repairs. Under this lease, the landlord receives rent as a gross figure and covers the operating expenses.
An index lease is a rental agreement that mandates adjustments in rent based on a published record of cost changes, typically tied to an economic indicator like the Consumer Price Index (CPI).
A month-to-month tenancy is a lease agreement that allows tenants to reside in a property on a month-by-month basis, with the option to extend or cancel the agreement at the end of each month.
A net lease is a real estate lease agreement in which, in addition to the stipulated rent, the lessee (tenant) agrees to cover other expenses such as taxes, insurance, and maintenance. This arrangement results in the landlord receiving rent net of these expenses.
Subletting refers to the act of a tenant leasing out part or the entirety of a property to another party under the conditions of their own lease agreement with the landlord.
A synthetic lease is a rental agreement that shifts all obligations, risks, and costs of the property to the tenant while the owner receives an absolute fixed rent. It is also known as a credit-tenant lease.
Tenancy at will is a flexible rental arrangement where the tenant is allowed to occupy property without a formal lease and can vacate or be asked to vacate at any time, reflecting an agreement that can be either written or oral.
