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Rental agreement. A rental agreement is a contract of rental, usually written, between the owner of a property and a renter who desires to have temporary possession of the property; it is distinguished from a lease, which is more typically for a fixed term. [ 1] As a minimum, the agreement identifies the parties, the property, the term of the ...
Leasehold is a form of land tenure or property tenure where one party buys the right to occupy land or a building for a given time. As a lease is a legal estate, leasehold estate can be bought and sold on the open market. A leasehold thus differs from a freehold or fee simple where the ownership of a property is purchased outright and after ...
Common area maintenance charges ( CAM) are one of the net charges billed to tenants in a commercial triple net (NNN) lease, and are paid by tenants to the landlord of a commercial property. A CAM charge is an additional rent, charged on top of base rent, and is mainly composed of maintenance fees for work performed on the common area of a property.
Rent-to-own agreements are based on a weekly or monthly rental term. In the structure of this type of transaction, the consumer ( lessee )—at the end of each week or month—can choose either to renew the lease on a weekly or monthly basis by making renewal payments, or to terminate the agreement with no further obligation by returning the ...
e. A retainer agreement is a work-for-hire contract. It falls between a one-off contract and permanent employment, which may be full-time or part-time. [ 1] Its distinguishing feature is that the client or customer pays in advance for professional work to be specified later. The purpose of a retainer fee is to ensure that the employed reserves ...
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