Property Management
A 'triple net' (NNN) lease in Connecticut requires the tenant to pay:
AThree months' rent as a security deposit
BBase rent plus property taxes, building insurance, and maintenance costs✓ Correct
COnly utilities on top of base rent
DBase rent with the landlord paying all expenses
Explanation
A triple net (NNN) lease requires the tenant to pay base rent plus property taxes, building insurance, and maintenance/operating costs, transferring most ownership expenses to the tenant.
People Also Study
Related Connecticut Questions
- Which type of lease requires the tenant to pay base rent plus a portion of operating expenses such as taxes, insurance, and maintenance?Property Management
- Which type of lease provides the tenant with a fixed annual rent with no adjustments for operating expenses, making it most favorable to the tenant?Property Management
- A Connecticut commercial property manager signs a lease with a new tenant. The lease requires the tenant to pay a base rent plus a proportionate share of operating expenses (taxes, insurance, maintenance). This is called a:Property Management
- A Connecticut commercial tenant in an office building pays base rent of $3,000/month plus their proportionate share of building expenses. If the tenant occupies 15% of the building and annual building expenses are $80,000, what does the tenant pay monthly in expense pass-throughs?Property Management
- A Connecticut apartment building has 12 units. 10 units rent for $1,600/month and 2 units rent for $1,850/month. The vacancy rate is 8%. Annual operating expenses are $52,000. What is the NOI?Real Estate Math
- A Connecticut landlord sends a lease renewal to most tenants but 'forgets' to send one to the only Black tenant in the building, whose lease is expiring. This is most likely:Fair Housing
- A Connecticut rental property generates annual gross income of $120,000 and has operating expenses of $45,000. What is the net operating income (NOI)?Property Valuation
- A Connecticut property has an effective gross income of $48,000 and annual operating expenses of $18,000. What is the net operating income?Real Estate Math
Key Terms to Know
Earnest Money
A 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.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Study This Topic
Practice More Connecticut Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Connecticut Quiz →