Property Management
An index lease in Utah ties rent adjustments to:
AThe landlord's mortgage interest rate
BA published economic index such as the Consumer Price Index (CPI)✓ Correct
CThe property's assessed value
DThe tenant's annual sales
Explanation
An index lease (also called a graduated lease with CPI adjustments) ties periodic rent increases to a published index—most commonly the CPI. As the index rises, rent increases accordingly.
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Key Terms to Know
Adjustable-Rate Mortgage (ARM)
A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
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