What you mean by lease?

A lease is a contract outlining the terms under which one party agrees to rent an asset—in this case, property—owned by another party. It guarantees the lessee, also known as the tenant, use of the property and guarantees the lessor (the property owner or landlord) regular payments for a specified period in exchange.

What is sublet in Tagalog?

(1) sublet :: paupahan ang isang bagay na inuupahan. (2) let :: pabayaan.

What is leasing a house?

Under a lease, a tenant is given the right to occupy a property for a certain period on a fixed amount to be paid as rent. By signing a lease agreement, the owner transfers some right over the immovable property to the tenant.

What happens when a lease ends?

After the leasing term ends, the property owners are allowed to extend the lease tenure. Plus, there is a government provision that allows you to convert the leasehold property to freehold after paying the conversion fees.

What is lease property?

A lease is an implied or written agreement specifying the conditions under which a lessor accepts to let out a property to be used by a lessee. The agreement promises the lessee use of the property for an agreed length of time while the owner is assured consistent payment over the agreed period.

What’s subletting mean?

Subletting happens when an existing tenant lets all or part of their home to someone else who is known as a subtenant. Many tenants need permission before they can sublet.

Is sublessee a word?

The definition of a sublessee is the person who holds a lease which was given to another person for all or part of a property. An example of a sublessee is the person who has a lease for a car that is already being leased by another party.

Is it better to lease or buy a home?

There is no definitive answer as to whether renting or owning a home is better. The answer depends on your own personal situation—your finances, lifestyle, and personal goals. You need to weigh out the benefits and the costs of each based on your income, savings, and how you live.

Is leasing cheaper than renting?

Exact price will be determined by the companies you go through, but the simplest answer is that renting a car is cheaper. Rental companies charge a set rate and you can return the car whenever you want. Leasing companies finance a loan for you and charge the price of the car, interest and depreciation.

Can leased property be sold?

When you sell a leasehold property, the lease is transferred to the new leaseholder. So, they will have to adhere to everything that was agreed to in the original contract, including paying the ground rent and service charge. The general process for selling a leasehold property is similar to freehold.