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Lease Amendment vs Addendum: The Difference
A lease amendment changes terms already in the lease. A lease addendum adds new terms the lease never covered. When to use each.
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A lease amendment changes terms already in the lease. A lease addendum adds new terms the lease never covered. When to use each.
Read articleIn a gross lease the landlord pays operating expenses out of a higher rent. In a net lease the tenant pays them on top of a lower rent.
Read articleA CAM cap limits how much a tenant's share of common area maintenance charges can rise each year, usually stated as a percentage. How caps work.
Read articleA tenant improvement allowance is money a landlord contributes toward building out a tenant's space, quoted as dollars per square foot. How to calculate it.
Read articleA percentage rent breakpoint is the sales threshold above which a retail tenant pays a percentage of sales as extra rent. The formula and typical rates.
Read articleA personal guaranty is a separate document in which an individual promises to cover the tenant entity's lease obligations if the business defaults, piercing the LLC shield. Here are the guaranty types, how good guy and burn-off guaranties limit exposure, and what diligence has to check.
Read articleThe base year is the first year of a full-service lease whose expenses become the fixed baseline. A worked calculation and the traps that cost tenants money.
Read articleA rent escalation clause sets how much and how often base rent rises over a lease term. The six main types and the CPI traps that cost tenants money.
Read articleA gross-up provision lets a landlord adjust operating expenses in a partly vacant building up to a set occupancy, usually 95 or 100 percent. How it works.
Read articleMigrating to Yardi, MRI, or another lease system means rebuilding clean lease data, not just exporting the old file. Here is the migration process, why teams re-abstract from source leases, and how to load a whole portfolio without carrying old errors forward.
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