Real Estate Terminology - Knowledge Base - Resources

Absolute Net- Lease requiring tenant to pay in addition to base rent all costs associated with the operation, repair and maintenance of the building, all real estate taxes, and utilities including repair and maintenance of the building's structure and roof. Often the tenant is directly responsible both for all such costs and for the active handling of the items themselves. Distinguished from Triple Net (see below) by tenant's responsibility for maintenance and repair of the building structure and roof.ADA- Americans With Disabilities Act passed by Congress in 1994 with intent to provide persons with disabilities accommodations and access equal to or similar to that of the general public.Additional Rent- Any amounts due under a lease that are in addition to base rent. Most common form is operating expense increases.Agency- Any relationship in which one party (agent) acts for or represents another (principal) under the authority of the latter. Agency involving real property should be in...