Long-Term Lease

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Long-Term Lease

A lease for longer than one, five or 10 years, depending on the specific asset being leased. For example, commercial property usually has long-term leases for five or more years, while residential property often carries long-term leases for more than one year. A long-term lease locks in the price one pays for the asset, which is usually advantageous because prices often trend upward. However, long-term leases offer little flexibility. For example, one may have to pay significant penalties if one cancels a long-term lease. One humorous example of a long-term lease is the Guinness brewery in Ireland, which Arthur Guinness rented for 9,000 years for 45 pounds per year.
References in periodicals archive ?
The UAE Civil Code provides for the different types of real property rights that exist in the UAE, save for long term leases which are found in other laws as described below.
UAE and GCC Nationals, and companies wholly owned by them, can enter into long term leases of properties located in all areas of Dubai.
It is important to note that the Tenancy Laws are not applicable over long term leases and the Rental Dispute Settlement Centre does not have jurisdiction over long term lease disputes.
In our opinion, a Use and Residence right is similar to a long term lease since it relates to use and residence.
Similarly, Article 22 of the Mortgage Law allows the holder of usufruct or long term lease for a period between 10 and 99 years to mortgage his real property interest during the term of the agreement.
Acquirer, leasor and seller of jet aircraft Aircastle Limited (NYSE:AYR) on Tuesday announced it has entered into long term leases with Southern Air Holding Inc.
* Mindset Media leased 2,880 s/f and Buttoned Up leased 2,000 s/f from Diamond Properties in long term leases at 828 South Broadway, Tarrytown, NY.
* ADL Data Systems signed a long term lease for 9,500 s/f at 9 Skyline Drive, Hawthorne, NY.
* Orkin Pest Control signed a long term lease for 2,500 s/f at 2 Westchester Plaza, Elmsford, NY.
* International Integrated Solutions made a long term lease at the Westchester Industrial Complex, Buchanan, NY.
signed a long term lease for 1,670 s/f at 495 Central Ave, Scarsdale, NY.
Air Lease Corporation (AL) announced today that it has entered into 12 year long term lease agreements with Air China for 13 new jet aircraft delivering in 2013 and 2014 which consist of nine (9) new Boeing 737-800s and four (4) new Airbus A321-200s.