What does a Step-up Lease provide for?

A Step-up Lease is designed to facilitate rent increases that occur at specified intervals throughout the duration of the lease. This structure allows landlords and tenants to have a clear understanding of future rental obligations, as the rental rate will escalate in predetermined amounts at set times. This can be beneficial for landlords seeking to keep pace with inflation or market trends, while providing tenants with a predictable plan for their rental expenses.

The features included in a Step-up Lease help both parties in financial planning, as the tenant is aware of the impending increases, allowing them to budget accordingly. Such leases are often agreed upon when the initial rent is set lower and increases are scheduled over the course of the lease to reach market rates.

In contrast, other options describe situations that do not fit the structure of a Step-up Lease. Rent decreases over time would imply a Rent Decrease Lease, while uniform rent payments signify a Fixed Lease. One-time special fees for maintenance does not align with the concept of structured lease payments. Thus, the defining characteristic of a Step-up Lease is the predetermined increases in rent, making it the correct answer.