Definition of For Rent / For Lease
Technically, offering a space “for rent” means that a relatively short period of guaranteed occupancy is being offered by the lessor/landlord, such as one month. Unless the tenant or lessor/landlord gives proper advanced notice of a termination of the tenancy, it is automatically renewed at the end of the period. In contrast, offering a space “for lease” means that a longer period of guaranteed occupancy is being offered by the lessor/landlord, such as one year.
COMMENT: The distinction between the terms “For Rent” and “For Lease” is becoming blurred. The term “For Rent” is now often used when advertising a small commercial space, even when the lessor/landlord is only willing to enter into a lease with a relatively longer period of guaranteed occupancy. Some lessors/landlords have started using the term “For Rent” because of the popularity of searching for commercial space on the internet, where a typical search may be for “office space for rent” or “retail space for rent.” For this reason, Southport Land uses the terms interchangeably in its advertising of available space in its Grass Valley, California building, its Ukiah, California building, and its Pittsburg, California building.
DISCLOSURE: Some of the definitions of leasing terms in this glossary have been tailored to reflect the common practice in the leasing of smaller-sized commercial properties in Northern California. These definitions are not intended to be the legal definitions that would typically be used in a legal proceeding.