As a landlord, you want to protect your investment, but you don’t want your rental unit to remain vacant for a long period of time, which damages your profit potential. While you might be tempted to rent the property quickly without regard for tenant quality, renting your unit to unqualified tenants may cause costly, time-consuming problems down the road. For example, if you end up with a tenant who fails to pay rent, you may end up having to evict them and start at square one again.
Renting, also known as hiring or letting, is an agreement where a payment is made for the temporary use of a good, service or property owned by another. A gross lease is when the tenant pays a flat rental amount and the landlord pays for all property charges regularly incurred by the ownership.
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