Understanding Lease Rates

Lease Rate is the amount of money that is paid over a certain duration of time for the purpose of renting an asset including a real estate property.

La Prisma, real estate developers in Zirakpur, would like to enlighten the reader with a basic understanding of what Lease Rates are:

The Exchange

The lender of the asset earns a lease rate from the person that he allows to make the use of his asset as compensation for himself not being able to make use of that property for the time period of the lease. Most of the times, individuals or companies enter into a lease agreement because of their inability to purchase the property as a whole or for other business-related issues.

Lease Rate Factor

The lease rate factor is used to interpret the lease rate or the rental payment of the property in the form of a percentage of the total asset cost.In the world of commercial real estate, this lease rate to occupy a given space is stated in the form of a certain amount per square foot of the area per year or any other decided period of time.

The Ownership

Unlike in the case of a loan where the property is purchased, in a lease agreement, the individual is allowed to make monthly instalments or payments to be able to acquire or use the property. In this case, the ownership of the given asset or property remains with the current owner.

The Terms

A lease is usually teamed up with a few terms that are to be followed by both parties. The terms of a lease can include the period the lease is applicable for, if there are rate increments in the lease over the years, where the responsibility to bear the cost of utilities, maintenance and any property taxes fall on.

Before signing a lease agreement one must be well aware of how to compare the different options that might be available. Hence with this blog, La Prisma, 3BHK & 4BHK Flats in Zirakpur, hopes the reader would be able to make the right decision. 
Location: La Prisma - Nagla, Road Chandigarh - Ambala Highway, Zirakpur, India, Punjab 140603, India

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