FAQs

Faq

Lease:
The legal agreement between the landlord and tenant setting forth the rules and conditions for occupancy by the tenant and limitations of the landlord.

Gross Lease:
The type of lease that is all inclusive. The tenant pays rent, and (in most cases utilities) operating costs such as taxes, maintenance, management fees, etc. are included in rental rate.

Net Lease:
A lease that is not all inclusive. Lease Agreement provides the tenant will pay all expenses for the property in addition to base rent, such expenses are referred to as operating expenses.

Base Rent:
Is generally expressed as an annual rent per square foot payable monthly.

Operating Expenses:
The landlord’s cost to operate the property. Some items included are: real estate taxes and assessments and other taxes, utilities, insurance, maintenance and repairs, common area refurbishing, janitorial, materials and supplies, repair and service, cost of property management, security fees, employees and contractors, outside maintenance, cost of signs, rubbish removal, pest control, bulb replacement, etc.

Lease Proposal:
A presentation, usually written of the proposed lease terms and conditions for the prospective tenant’s occupancy.

Lease Term:
Number of months, or years the agreed upon lease will remain in force.

Renewal:
The ability to renew a lease for a period of time, to remain in your present space.

Renewal Option:
An option in the lease giving the tenant the right to renew their lease, under certain terms and conditions and usually within a certain given time frame.

Lease Expiration:
The date when the lease expires, according to the terms and conditions set forth in the lease.

HVAC:
A term used when referring to heating, air-conditioning and other ventilation systems within the building.

Estoppel Certificate:
Is a document signed by the tenant stating the current condition of the lease and any other agreements between the landlord and tenant.

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    Concorde Group Corp
    1171 8th Street East
    Saskatoon, SK, S7H 0S3

    Mary Hipperson
    Commercial Sales and Leasing

    Office: 306-668-3004
    Mobile: 306-715-8700 mhipperson@concordegroup.com