Renee is leasing her condo in San Francisco from Brad. For the first six months of the lease, her rent will be $1,200 per month. Every six months her rent will increase $100 per month based on the increa? ses to Brad in taxes, insurance, and other operating costs. What type of lease has Renee signed?

Question

Business

Dennis Donovan

25 May, 06:27

Renee is leasing her condo in San Francisco from Brad. For the first six months of the lease, her rent will be $1,200 per month. Every six months her rent will increase $100 per month based on the increa? ses to Brad in taxes, insurance, and other operating costs. What type of lease has Renee signed?

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Answers (1)

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Fletcher Forbes · Answer 1

The correct answer is "Escalation Clause Lease"

Explanation:

An escalation clause lease is a clause of a contract that supports a change in the agreement price, it allows to increase or decrease depending on external factors like inflation.

Renee has signed a contract that includes an escalation clause that the participants agree to an adjustment of rent based on set increases operating cost.