There are a lot of terms that you will need to learn when it is time to move into your first apartment. Understanding how all of these terms work and whether they relate back to you or not can make a world of difference in how well you can pick out your first apartment and make it your own home. Some of these terms are ones that you may never need to worry about, but it can depend on your unique situation and what you are hoping to get when you move into the apartment. One term that we are going to discuss now is known a rent abatement.

When we talk about rent abatement, we are talking about specific situations where the landlord and tenant agree to a temporary reduction of the rent payments. If the property is damaged quite a bit or there is a natural disaster, the landlord may agree to this to make things more affordable for the tenant while it all gets fixed up.

Rent abatement can turn into a really powerful tool that is going to protect both the landlord and the tenant from some unforeseen circumstances that may happen. It is more likely to be found in commercial real estate since whole companies could be impacted if there is a large amount of property damage or other issues that get in the way of them running their business in the first place.

A smooth relationship between the tenant and the landlord by making sure that the terms of any potential rent abatement will be in the lease from the very beginning. Both parties will know what to expect and can stick together when that situation happens. It can take the stress out and ensures that no one is confused or feels blind-sided later on. The tenant can get a partial discount over their time in that property and the landlord is able to attract more tenants through the door when they offer this kind of service or option.

Are you tired of being in an older apartment that seems to be falling apart all the time and doesn’t have the amenities or the space that you are looking for? Then it is time to consider a new apartment that has all the updates that you are looking for. We are proud to offer some of the best new Shoreline apartments that you are looking for without all the hassle. We are confident that you will fall in love with these apartments and want to make them your own. Contact us today to set up your showing.