Carl Himel, is an insurance agent in Orange, Texas.Carl Himel has decades of experience in insurance industry. Here Carl Himel is sharing, how lease properties play an important role in the real estate market.
Lease properties can be either commercial or residential. A
lease is a contract between property owners and tenants. When a property owner
chooses to lease a home or office, that party is agreeing to allow the second
party to use the property in exchange for money.
There are multiple types of property leases including
full-service leases, gross leases, net leases, and percentage leases. A basic
lease is a contract between the property owner and the renter, however each of
the aforementioned leases have slight variations on when the tenant pays rent
and how.
Lease properties have many advantages. The property owners can
make a profit off of their properties while tenants do not have to take on the
risks of purchasing a home or office building. Purchasing a property often
requires a large lump sum as well as good credit and income. Owning property
can be risky as well. There is always a possibility that property values will
drop and your home or building will be worth less than your mortgage. Leasing
is a good way for a renter to protect him or herself.
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