How does a "mixed-use lease" vary from a standard lease?

A "mixed-use lease" is distinct from a standard lease primarily due to its versatility in accommodating both residential and commercial uses. This type of lease is designed for properties that are utilized for a combination of purposes, allowing tenants to operate businesses while also providing residential living spaces.

For instance, a mixed-use property may feature storefronts on the ground floor and apartments above, creating an environment where residents can live close to their places of work. This contrasts with a standard lease, which typically applies to either residential or commercial properties but not both within the same lease agreement.

This flexibility in mixed-use leases makes them beneficial for urban developments where integrating different types of spaces can foster community engagement and convenience. The ability to coexist offers a unique alternative to more traditional leasing arrangements.