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19 Cards in this Set
- Front
- Back
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Percentage Lease
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Provides that a tenant pays a fixed minimum or base rental plus a percentage of gross sales, gross profit, or net profit above a certain minimum
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Ground Lease
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for the rental of unimproved land.
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Sale Leaseback |
Owner sells property to investor with an agreement to lease it back on long term net lease basis from the investor who bought it |
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The Occupancy Agreement
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Unlawful Detainer
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Filed when a tenant has been notified and refuses to leave
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Eviction
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Legal process used to remove tenant |
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Warranty of Habitability or Implied Covenant of Quiet Enjoyment |
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Termination of Leases |
- Notice - Mutual Agreement - Merger - Condemnation - Eviction - Destruction of Premises - Death |
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Property Manager |
Must maintain, preserve and enhance the owner's investment |
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Management Contract |
Establishes the agency relationship giving the manager the authority to act on the owner's behalf |
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Rent schedule
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Based on the supply and demand factors in the area |
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Operating Budget
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Budget for operating for the next twelve months
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CAM
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An association of homeowner's - maintain and operate recreational facilities - enforce |
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Exemptions from licensing CAM requirements
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Lease
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Document that provides the transfer of rights form the landlord to tenant. |
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Landlord
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Property owner that retains a leased fee (pay to use) estate |
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Reversionary Estate |
Lessor regains rights of possession and use at the end of the agreement.
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Tenant (lessee) |
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