Question

City brokers recently signed a lease on 22,000 sq.ft. of office space at $18.00 per sq.ft.. what is the annual rent paid by city brokers?

Answer 1

A lease is a legal agreement that requires the user to pay the owner in exchange for using a certain item.

What is lease?

A lease is a legal agreement that requires the user to pay the owner in exchange for using a certain item. Common assets that are leased include real estate, construction projects, and cars. Equipment for businesses or industries is also leased. A leasing agreement is essentially a contract between the lessor and the lessee.

The property owner and renter are legally bound by the terms of a lease. As a result, it is crucial to make sure it explicitly outlines the roles of the tenant and landlord, as well as the rules, policies, and methods for resolving disputes for residing in the rental property.

The annual rent paid by city brokers are,

18*22000 = 396000

To learn more about leasing agreement refer to:

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