Cancellation clause

A provision in a lease that confers upon one or both of the parties to the lease the right to terminate the lease upon the occurrence of the condition or contingency set forth in the said clause.

Commencement Date

The date that the tenancy starts. Rent becomes payable after the rent free period. The tenant may move in before the commencement date if he has a rent-free licence period or later if he carries out his own renovation or decoration works.

Commission

The fee paid to a real estate agentas procuring cause and/or for his or her services rendered in a real estate transaction. May be paid by either party in a transaction; it is usually governed by a prior written agreement.

Common areas

Areas used by two or more tenants and/or third parties and not under the control of any one tenant.