Virginia Real Estate Salesperson Exam — All Questions
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1 questions
Property Management
A lease in which the tenant pays a base rent plus a share of the property taxes, insurance, and maintenance is known as a:
- a.Net lease✓
- b.Gross lease
- c.Ground lease
- d.Percentage lease that ignores expenses
In a net lease the tenant pays base rent plus some or all of the property's operating expenses such as taxes, insurance, and maintenance. In a gross lease the landlord pays those operating expenses out of the rent.