Guaranteed Rent

Lease agreements can vary widely in duration. For residential properties, leases are often  typically range from 3 to 5 years or even longer. Equipment leases might be shorter, such as 1 to 3 years, 

• Maintenance costs are typically divided between the lessor (property owner or equipment owner) and the lessee (tenant or equipment user) based on the terms of the lease agreement.
• In residential leases, landlords typically cover major structural repairs, while tenants are responsible for day-to-day maintenance and minor repairs.
• In commercial leases, it can vary. Sometimes, tenants are responsible for all maintenance costs, while in other cases, landlords may cover certain costs, like structural repairs.
• Equipment leases often require the lessee to perform regular maintenance and may specify maintenance responsibilities in detail.
• Vehicle leases may include maintenance as part of the lease package or may require the lessee to cover maintenance costs separately.

• Yes, many leases include clauses specifying the responsibilities of each party regarding maintenance. These clauses can outline what types of maintenance are required, how often it should be done, and who is responsible for the associated costs.
• Some leases may also require lessees to provide proof of regular maintenance to ensure the asset’s proper upkeep.

• The ability to make alterations or modifications to a leased property or asset often depends on the terms of the lease agreement.
• In residential leases, minor alterations are sometimes allowed with the landlord’s approval, but major modifications usually require landlord consent.
• In commercial leases, modifications may be negotiated as part of the lease terms, and they can vary widely.
• Equipment and vehicle leases may have restrictions on modifications, especially if they affect the asset’s value or functionality.