Home-based businesses are quickly becoming the fastest growing form of business start-ups in America. In fact, over half of the 600,000 new businesses founded each year are grown out of someone's home office of basement.

A lease term is the duration for which a lease agreement is valid. It specifies the start and end dates of the lease. Lease terms can range from short-term agreements to long-term contracts, depending on the agreement between the tenant and landlord.