A tenant has a commercial lease that requires that the tenant pay taxes, insurance, maintenance, and parking lot repairs. What kind of lease does the tenant have?
A net lease requires the tenant to pay some or all operating expenses, including taxes, insurance, maintenance, and sometimes repairs. Commercial leases often use this form (single, double, or triple net).
A gross lease means the landlord pays all expenses.
A ground lease is long-term land rental.
A percentage lease ties rent partly to sales volume.
This is a net lease.
[Reference: NJ Real Estate Salesperson Study Guide, Chapter on Leases and Property Management., ]
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