This week we are talking about everything you need to know about the agreement to lease. One of the subjects is about Rent-Free Period and Early Occupancy. Many of our clients ask about the one or two months rent-free. On the other hand, some of the clients would like to have an early occupancy date. Each Real Estate has a different possession date. That means, if tenants would like to rent a place, they should pay attention to that date.
This is a defined period where the tenant does not pay rent either prior to their lease term or at the start of their lease term. In addition, A landlord might see this as a reasonable request dependent on market conditions and the length of the lease term. In most examples, rent-free periods occur in advance of the commencement date of the lease. The rent-Free option is normally found in commercial agreements.
This is a term that is used to describe when a seller of a real estate allows the buyer to move into that place before the actual sale is closed. Generally speaking, each listing has a possession date. This date shows the client the expected occupancy date, for example, Immediate, or actual date. In this situation, a landlord will require certain assurances in order for a tenant to obtain early occupancy. If agreed among the parties, the ability of a purchaser to take possession of the property before closing.
This is a simple definition of the Rent-Free Period and Early Occupancy. Also, we are here to help our clients to find the right real estate for them.
Our team is working with a high range of real estate owners, who would like to rent their place. Please reply if you are looking for a place to rent.
Call Babak Mehrabi, Commercial Real Estate Agent With Century 21 Heritage Group Ltd.