WORD OF THE DAY
Step-Down Lease
Type of lease that provides deceased rental rates for tenants on specific future dates. Landlords can use this type of lease to avoid losing tenants who would otherwise need to move out due to rising rents.
Step-Down Lease
Type of lease that provides deceased rental rates for tenants on specific future dates. Landlords can use this type of lease to avoid losing tenants who would otherwise need to move out due to rising rents.
Source: MoneyGlossary