Property Management
A Michigan commercial lease that requires the tenant to pay a percentage of gross sales in addition to base rent is called a:
ANet lease
BPercentage lease✓ Correct
CGross lease
DTriple-net lease
Explanation
A percentage lease requires the tenant to pay a base rent plus a percentage of their gross sales revenue. It is commonly used in retail properties where tenant sales volume can be monitored.
Related Michigan Property Management Questions
- Under Michigan law, a security deposit for a residential tenant cannot exceed:
- Under Michigan law, which of the following may a landlord deduct from a security deposit?
- A Michigan property manager who manages property on behalf of an owner for compensation must hold:
- In Michigan, a landlord must return a tenant's security deposit within how many days after the tenancy ends?
- In Michigan, a 'ground lease' for commercial property typically features:
- A net lease in Michigan requires the tenant to pay:
- In Michigan, a 'move-in checklist' for a rental unit is important because it:
- A property manager in Michigan who collects rents and manages properties for a fee without a real estate license is:
Practice More Michigan Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Michigan Quiz →