Property Management
What is a 'net-net lease' (double net) in Delaware commercial real estate?
AA lease where the tenant pays rent plus property taxes and insurance, with the landlord responsible for structural repairs✓ Correct
BA lease where both the landlord and tenant share all expenses equally
CA lease where the tenant pays only utilities
DA lease where all maintenance is provided by a third-party contractor
Explanation
A double net (NN) lease requires the tenant to pay base rent plus property taxes and insurance premiums. The landlord typically remains responsible for structural repairs and roof maintenance.
Related Delaware Property Management Questions
- What is 'deferred maintenance' in the context of Delaware property management?
- What is 'economic obsolescence' as it applies to Delaware investment property management?
- Under Delaware landlord-tenant law, a landlord who fails to make a required repair after receiving written notice from the tenant may face:
- In Delaware, what is an 'operating budget' for a managed property?
- What is a 'management fee' in Delaware property management, and how is it typically structured?
- What is the primary obligation of a Delaware residential landlord regarding habitability?
- What does 'market vacancy rate' indicate for a Delaware rental market?
- A Delaware commercial property manager collects a 'CAM fee' from tenants. What does CAM stand for?
Practice More Delaware Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Delaware Quiz →