Property Management
A 'percentage lease' used in Ohio retail properties requires the tenant to pay:
AA fixed rent that increases by a set percentage annually
BBase rent plus a percentage of the tenant's gross sales above a stated breakpoint✓ Correct
COnly a percentage of the tenant's net profits
DRent calculated as a percentage of the property's appraised value
Explanation
A percentage lease requires the tenant to pay a base rent plus a percentage of gross sales above a natural or artificial breakpoint. It is commonly used in retail leases tied to sales performance.
Related Ohio Property Management Questions
- In Ohio, an 'eviction' proceeding (Forcible Entry and Detainer) is initiated when a tenant:
- Under Ohio landlord-tenant law (ORC Chapter 5321), a landlord must return a security deposit within:
- In Ohio, who is responsible for maintaining fire safety equipment (smoke detectors, CO detectors) in a rental property?
- Under Ohio landlord-tenant law, a 'rent escrow' allows a tenant to:
- What is a capital expenditure (CapEx) reserve in property management?
- Under Ohio law, a 'surety bond' in property management is used to:
- In Ohio, which of the following is considered 'normal wear and tear' for which a landlord CANNOT deduct from a security deposit?
- In Ohio, a 'management fee' for residential property management is typically calculated as:
Practice More Ohio Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Ohio Quiz →