Property Management
Which of the following lease types has the tenant paying a base rent that increases at set intervals?
ANet lease
BGross lease
CGraduated (step-up) lease✓ Correct
DPercentage lease
Explanation
A graduated (step-up) lease has predetermined rent increases at specific intervals, providing predictability for both landlord and tenant.
People Also Study
Related New Jersey Questions
- A NJ commercial lease requiring the tenant to pay base rent plus property taxes, building insurance, and maintenance costs is called a:Property Management
- A NJ landlord who accepts rent from a holdover tenant after the lease expires creates a:Property Management
- A NJ commercial property manager negotiating a new tenant's lease would typically NOT include which of the following in the base rent?Property Management
- Source of lawful income as a protected class in NJ's Law Against Discrimination means a landlord cannot refuse to rent to a tenant because they:Fair Housing
- Under the NJ Law Against Discrimination, 'source of lawful income' as a protected class means a landlord may NOT refuse to rent to a prospective tenant because they:Fair Housing
- In a NJ residential lease, which clause allows the landlord to increase rent once per year if properly noticed?Property Management
- A NJ landlord who refuses to allow a tenant with PTSD to have an emotional support animal despite the tenant providing a healthcare provider letter is potentially:Fair Housing
- A NJ landlord increases rent by 3% on a unit renting for $1,750/month. What is the new monthly rent?Real Estate Math
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 New Jersey Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Jersey Quiz →