The term 'gross lease' in commercial property management refers to:
Why A lease where the landlord pays all operating expenses and the tenant pays only base rent Is Correct
Answer B: A lease where the landlord pays all operating expenses and the tenant pays only base rent
Exam Tip: Property Management
Property management questions cover landlord-tenant law, security deposits, and maintenance responsibilities. Know the differences between gross, net, and percentage leases.
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Key Terms to Know
A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
ProrationThe division of ongoing property expenses (taxes, HOA dues, rents) between buyer and seller at closing based on their respective days of ownership.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Math Concepts
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