Property Management
What is a 'net lease' and how is it typically used in Nevada commercial property management?
AA lease where the tenant pays only utilities above a base amount
BA lease structure where the tenant pays base rent plus some or all operating expenses (taxes, insurance, maintenance), reducing the landlord's variable costs✓ Correct
CA lease that automatically nets out to zero after tax deductions
DA lease used exclusively for agricultural land in rural Nevada
Explanation
Net leases require tenants to pay base rent plus additional expenses. Types include: Net (N) — tenant pays property taxes; Net-Net (NN) — pays taxes and insurance; Triple Net (NNN) — pays taxes, insurance, and maintenance.
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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.
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