Property Management
In Massachusetts, a commercial tenant with a 'triple net' (NNN) lease is responsible for paying:
ABase rent only
BBase rent plus property taxes, building insurance, and maintenance costs✓ Correct
CBase rent plus utilities only
DAll costs of building operation including capital improvements
Explanation
Under a triple net (NNN) lease, the tenant pays base rent plus their share of three 'nets': property taxes, building insurance premiums, and maintenance/repair costs. This shifts most operating costs from the landlord to the tenant.
People Also Study
Related Massachusetts Questions
- A Massachusetts condo buyer closes on April 15. Real estate taxes for the calendar year are $6,000. The seller pays through the date of closing. How much does the seller owe at closing for their share of taxes?Real Estate Math
- A Massachusetts commercial lease where the tenant pays base rent plus a share of operating expenses is a:Property Management
- A Massachusetts commercial lease providing rent based on a percentage of the tenant's gross sales is called a:Contracts
- A Massachusetts commercial tenant pays rent of $20 per square foot for a 5,000 sf space. Annual rent is:Property Valuation
- A Massachusetts commercial tenant's lease contains a 'holdover' clause providing that if the tenant stays after the lease expires without a new agreement, the tenancy converts to a month-to-month tenancy at 150% of the prior rent. This provision is:Contracts
- A Massachusetts commercial lease that requires the tenant to pay base rent plus property taxes is an example of a:Property Management
- A Massachusetts 'triple net (NNN) lease' requires the commercial tenant to pay:Property Management
- A Massachusetts commercial tenant wants to assign their lease to a new business owner. The lease requires landlord consent. The landlord's refusal to consent:Contracts
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 Massachusetts Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Massachusetts Quiz →