Leasing is a process by which a firm can obtain the use of a certain fixed assets for which it must pay a series of contractual, periodic, tax deductible payments. The lessee is the receiver of the services or the assets under the lease contract and the lessor is the owner of the assets. The relationship between the tenant and the landlord is called a tenancy, and can be for a fixed or an indefinite period of time (called the term of the lease). The consideration for the lease is called rent. A gross lease is when the tenant pays a flat rental amount and the landlord pays for all property charges regularly incurred by the ownership from lawnmowers and washing machines to handbags and jewellry.
Under normal circumstances, a freehold owner of property is at liberty to do what they want with their property, including destroy it or hand over possession of the property to a tenant. However, if the owner has surrendered possession to another (the tenant) then any interference with the quiet enjoyment of the property by the tenant in lawful possession is unlawful. Similar principles apply to real property as well as to personal property, though the terminology would be different. Similar principles apply to sub-leasing, that is the leasing by a tenant in possession to a sub-tenant. The right to sub-lease can be expressly prohibited by the main lease.
Arizona is a state located in the southwestern region of the United States. It is also part of the Western United States and the Mountain West. Arizona is the 6th most extensive and the 16th most populous of the U.S. states. The United States Census Bureau estimates that the state population was 6,482,505 on July 1, 2011, a 1.42% increase since the 2010 United States Census. The capital and largest city is Phoenix. The second largest city is Tucson, followed in size by eight Phoenix metropolitan area cities: Mesa, Glendale, Chandler, Scottsdale, Gilbert, Tempe, Peoria, Surprise and then by Flagstaff in Coconino County.