Understanding the Terms of a Commercial Real Estate Lease Agreement

While certain disclosures are required by law, a disclosure as to every single possible commercial property tax that you may need to pay on a property is not necessarily required. Property tax, school tax and other requirements change relatively regularly, and it is possible that the landlord wasn’t even specifically aware of the tax or that it was omitted inadvertently. In any case, it is up to you to do your due diligence before you sign a lease or buy a property, so it is your obligation to just pay the commercial property tax as required by your lease.

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What Are Prorations?

Prorations can be many different things, from the distribution of materials to a smaller monthly payment due to the startup of a service. Prorations are usually thought of in terms of monetary payments and are used extensively in relation to real estate.

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