Asked by
Vizio Television
on Nov 21, 2024Verified
Long-term leases generally have a rent escalation clause.
Rent Escalation Clause
In a lease, a clause that permits the landlord to increase the rent in association with increases in costs of living, property taxes, or the tenant’s commercial business.
Long-Term Leases
Lease agreements that extend for a long period, often exceeding a year, typically used for real estate and heavy equipment.
- Recognize different types of leases and their characteristics.
Verified Answer
DN
Learning Objectives
- Recognize different types of leases and their characteristics.