What does concession mean in an argument?
A concession is something yielded to an opponent during an argument, such as a point or a fact. Concessions often occur during formal arguments and counterarguments, such as in debates or academic writing. A writer or debater may agree with one aspect of his or her opponent’s ideas and yet disagree with the rest.
What is the mean of concession?
1a : the act or an instance of conceding (as by granting something as a right, accepting something as true, or acknowledging defeat) The union will seek further concessions before accepting the contract. b : the admitting of a point claimed in argument.
What happens during an abatement period?
During the abatement period, you are not required to pay rent to occupy your space. Often, the abatement period takes place over the first few months of the lease. Some commercial leases also provide rent abatement in the event that offices cannot be occupied due to repairs or maintenance.
What is free rent called?
Free rent, or rent abatement, is a common and widely sought-after concession in most commercial office leasing transactions. And it’s almost exactly what it sounds like: rent that you don’t have to pay.
What’s a rent free period?
A rent-free period is a time during your lease where you don’t have to pay any rent at all. For example, imagine that a tenant negotiates a six-month rent-free period on a five-year lease of office premises and that the monthly face rent is $75,000.
What is rent incentive?
In a leasing transaction, it is common for a landlord to offer lease incentives to attract a potential tenant to their property. Some lease incentives are rent abatement, rent reduction and fit-out contribution. Either the lease or a separate deed will document the incentive.