Property Management
In Kansas, what is a 'percentage lease' commonly used in commercial property?
AA lease where rent varies based on the landlord's expenses
BA lease where the tenant pays a base rent plus a percentage of gross sales above a stated minimum, common in retail✓ Correct
CA lease where the tenant owns a percentage of the property
DA lease tied to a percentage of the consumer price index
Explanation
A percentage lease requires a commercial tenant (typically retail) to pay base rent plus a percentage of gross sales over a specified breakeven amount. It aligns the landlord's income with the tenant's business success.
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