Property Management
In Minnesota, a commercial lease that requires the tenant to pay a proportional share of operating expenses for the entire building (taxes, insurance, maintenance) is called a:
AGross lease
BModified gross lease
CNet lease✓ Correct
DPercentage lease
Explanation
A net lease requires tenants to pay some or all operating expenses in addition to base rent. A triple net (NNN) lease requires the tenant to pay all three major expense categories: real estate taxes, building insurance, and maintenance/repairs. This is common in Minnesota commercial and industrial properties.
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