Rent Control: Definition, How It Works, Vs. Rent Stabilization Rent control is a government policy that limits the amount landlords can charge for rent on residential properties. It is designed to protect tenants from excessive rent increases and ensure affordable housing options are available in high-cost areas. Under rent control, … …
Month-to-Month Tenancy: Advantages and Disadvantages of Short Term Renting Advantages of Month-to-Month Tenancy Flexibility: One of the main advantages of month-to-month tenancy is the flexibility it offers. Tenants have the freedom to move out with just a 30-day notice, which can be beneficial for those who have uncertain living situations … …
Lessor: Definition, Types, Vs Landlord and Lessee The main difference between a lessor and a landlord is the type of property being leased. A lessor typically refers to someone who leases out personal property, such as vehicles, equipment, or furniture. On the other hand, a landlord usually refers to someone … …
What is Lessee? Lessee refers to the person or entity that rents a property from a lessor. In the context of property rental, the lessee is the tenant or renter who pays a specified amount of money to the lessor in exchange for the right to occupy and use the … …
What is Lease Extension? Definition A lease extension is a legal agreement that extends the lease term between a landlord and a tenant. It is a mutually beneficial arrangement that provides the tenant with the opportunity to continue living or operating a business in the leased property, while allowing the … …