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MONTH-TO-MONTH TENANCY A periodic tenancy where the tenant rents for one month at a time. In the absence of rental agreement (oral or written), a tenancy is deemed to be month-to-month, or in the case of boarders, week-to-week. REBATE A reduction or kickback of a stipulated charge. ABSORPTION RATE An estimate of the rate at which a particular classification of space - such as new office space, new housing, new condominium units and the like - will be sold or occupied each year. COMMISSION The compensation paid to a real estate broker(usually by the seller) for services rendered in connection with the sale or exchange of real property. GRADUATED RENTAL LEASE A lease in which the rent payments commence at a fixed, often low rate, but "step up" or increase at set intervals as the lease term matures. |
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