Alex pays a fixed rent on the apartment and the landlord pays all other expenses

Question

Alex pays a fixed rent on the apartment and the landlord pays all other expenses. Alex has the followi type of lease: 16. Net Lease A. Gross Lease B. Percentage Lease D. Variable Lease Alice pays a fixed rent on the apartment along with all other expenses associated with the property. A has the following type of lease: A. Gross Lease B. Percentage Lease C. Net-Net-Net Lease D. Variable Lease 18. Ethel has leased a store in the local mall. Her rent is based on a minimum fixed rental fee plus a portio the income received by the tenant doing business on the lease. Ethel has the following type of lease: A. Variable Lease B. Triple Net Lease C. Gross Lease D. Percentage Lease

Explanation / Answer

16.A. Gross Lease

gross lease is a property lease in which the landlord agrees to pay all expenses which are normally associated with ownership, such as utilities, repairs, insurance, and (sometimes) taxes.

17. C net-net-net Lease

A triple net lease (or "nnn" lease) is a form of real-estate lease agreement where the tenant or lessee is responsible for the ongoing expenses of the property, including real estate taxes, building insurance, and maintenance, in addition to paying the rent and utilities.

18.D.Percentage Lease

A percentage lease is a lease where the rental is based on a percentage of the monthly or annual gross sales made on the premises, usually coupled with a base rent. This is a common lease type for retail stores operating in leased spaces, where the tenant pays a base rent regardless of profits/losses plus a percentage of revenue earned as a result of conducting business on the premises.

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