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Real Estate Leases
Real Estate owners need to make sure to have a lease that protects themselves while outlining legal and fair terms for the tenants.
A LEASE MAY BE
A fixed-term agreement, in other words one of these two:
- For a specified period of time (the “term”), and end when the term expires;
- Conditional, i.e. last until some specified event occurs, such as the death of a specified individual; or a periodic agreement, in other words renewed automatically
- usually on a monthly or weekly basis
- at will, i.e. last only as long as the parties wish it to, and be terminated without penalty by either party.
BUSINESS FACTS
- There are 28 million small businesses in the U.S. — which outnumber corporations 1162 to 1.
- 70% of small businesses are owned and operated by a single person.
- Small businesses employ 57% of the country’s private workforce.
- Small businesses pay 44% of U.S. payroll.
- Only 50% of businesses survive five years.
- Immigrants make up 12.5% of small business owners nationwide.
- 60 to 80% of all new jobs come from small businesses.
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