Question

When negotiating the purchase of a property that's subject to an existing lease, it's critical for your client to clearly understand the lease terms, including the property management responsibilities, rent amount, renewal/purchase options, and the ______

Answer 1

The lease terms that the client should understand are property management responsibilities, rent amount, renewal/purchase options, and the lease duration.

What is a lease?

This is usually a contract agreement that would have one party give out property to the other party for a given period of time and for payment during the period of use.

In  a lease it is important that the duration and the payment are well spelt out.

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