Burt M. Polson - Commercial Real Estate Broker

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Understanding the lease - part 1

Getting stuck in a lease with less than favorable terms you do not fully understand can give you years of regret. Both landlords and tenants need to be sure they ask questions and know the specifics before signing.

Unlike purchasing real estate, the relationship created between a buyer and seller is relatively short-term lasting only a few months. A lease can be from one-year up to several decades so knowing what you are signing is important.

A lease is a contract between a landlord and tenant (often termed a lessor and lessee) that allows the tenant rights to the use of a property owned by the landlord for a period.

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