An addendum to the tenant improvement clause of a lease that lists in detail all the work to be completed within the building or tenant's premises.
A document by which the tenant confirms the terms of the lease (current security deposit, term of the lease, status of rent payments and other charges to the Landlord, etc.)
A form of dispute resolution that aims to assist two or more disputants in reaching an agreement. The parties of the dispute determine whether to resolve the dispute, as opposed to granting the authority to resolve the dispute to another party.
Areas of a property that are used by all tenants (e.g. lobbies, public corridors, and service areas of a building).
The total square footage of a building that can be occupied by, or assigned to a tenant for the purpose of determining a tenant’s rental obligation. This typically includes a percentage of common areas
including all hallways, main lobbies, bathrooms and telephone closets, etc..
A legal process to reclaim real estate, usually from a tenant that has not performed under the agreed-upon terms of the lease.
Amount of income collected from an investment property after you subtract the operating expenses.
Failure to occupy and use property, which may result in a loss of rights.
The area of the Premises computed by measuring to the interior surface of permanent outside walls excluding common areas.
A payment that a tenant makes to the landlord as a security in the event that there is damage to the property or their premises. It can also be applied if a tenant has failed to pay rent or other charges to the landlord.
A legal claim against a property that must be paid off when the property is sold. A mortgage or first trust deed is considered a lien.
An accounting calculation that spreads the cost of item or loan over a set period, so that at the end of the period there is a zero balance. At times the calculation will include interest in addition to the original cost.