What are the key terms in a lease agreement?
An example of an AI chatbot conversation about lease agreement terminology.
What are the key terms in a lease agreement?
Key terms in a lease agreement include rent, lease duration, security deposit, maintenance responsibilities, and termination clauses.
Can you explain what a security deposit is?
A security deposit is a sum of money paid by the tenant to the landlord to cover potential damages or unpaid rent.
What does the term 'lease duration' mean?
Lease duration refers to the length of time the lease agreement is in effect, typically expressed in months or years.
What happens if I want to terminate the lease early?
If you want to terminate the lease early, you may need to pay a penalty or find a replacement tenant, depending on the lease terms.
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