Service charge
A payment under a lease or property arrangement towards costs such as maintenance, insurance or management of shared services.
Related terms
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Lease liability
An amount or obligation arising under a lease, such as unpaid rent, service charges, dilapidations or guaranteed lease commitments.
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Rent
Payment made by a tenant for the right to occupy or use property under a lease or tenancy.
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Tenant
A person or business entitled to occupy or use property under a lease or tenancy agreement.
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