@realestate/types/RESODataDictionaryV1_7/ExistingLeaseType.d.ts

Types for real estate

/**
 * Copyright (c) 2023 ListBird. All Rights Reserved.
 *
 * This software product includes software or other works developed by RESO,
 * subject to the RESO End User License published at www.reso.org.
 *
 * Any modifications, derivative works, or redistributions of this source must
 * maintain this copyright notice. See the RESO EULA for more information.
 */

export enum ExistingLeaseType {
  /**
   * {@link https://ddwiki.reso.org/display/DDW17/Absolute+Net}
   *
   * Also known as a Bondable Lease, the tenant carries every risk in addition to the costs of a NNN Lease.
   */
  AbsoluteNet = 'AbsoluteNet',

  /**
   * {@link https://ddwiki.reso.org/display/DDW17/CPI+Adjustment}
   *
   * An escalation clause/provision in a lease to adjust the amount paid by the tenant (lessee) where the
   * adjustment will follow the Consumer Price Index (CPI).
   */
  CpiAdjustment = 'CpiAdjustment',

  /**
   * {@link https://ddwiki.reso.org/display/DDW17/Escalation+Clause}
   *
   * A clause or provision in a lease document that set a formula for how rent will increase over time.
   */
  EscalationClause = 'EscalationClause',

  /**
   * {@link https://ddwiki.reso.org/display/DDW17/Gross}
   *
   * A lease agreement where the owner (lessor) pays all property changes normal to ownership. The opposite
   * to net leases where the tenant (lessee) may pay taxes, insurance, maintenance and even for damages that
   * were not caused by the tenant.
   */
  Gross = 'Gross',

  /**
   * {@link https://ddwiki.reso.org/display/DDW17/Ground+Lease}
   *
   * Typically a long term lease of land where the tenant (lessee) has the right to develop or make
   * improvements.
   */
  GroundLease = 'GroundLease',

  /**
   * {@link https://ddwiki.reso.org/display/DDW17/Net}
   *
   * A lease agreement where the tenant pays the real estate taxes.
   */
  Net = 'Net',

  /**
   * {@link https://ddwiki.reso.org/display/DDW17/NN}
   *
   * A lease agreement where the tenant pays real estate taxes and building insurance.
   */
  Nn = 'Nn',

  /**
   * {@link https://ddwiki.reso.org/display/DDW17/NNN}
   *
   * A lease agreement where the tenant pays real estate taxes, building insurance and maintenance.
   */
  Nnn = 'Nnn',

  /**
   * {@link https://ddwiki.reso.org/display/DDW17/Oral}
   *
   * The terms of the lease are agreed orally (not in writing) between the lessee and lessor. Legal
   * restrictions around oral agreements vary from state to state.
   */
  Oral = 'Oral',
}