Property Management
Which of the following BEST describes 'net net net' (NNN) lease in Ohio commercial real estate?
AThree separate leases for the same property
BA lease where the tenant pays base rent plus all three nets: property taxes, insurance, and all maintenance/operating expenses✓ Correct
CA government-subsidized commercial lease
DA lease where the tenant nets three times the base rent in gross revenues
Explanation
A triple-net (NNN) lease requires the tenant to pay base rent plus the three 'nets': real estate taxes, building insurance, and maintenance/operating expenses. The landlord typically receives a truly net income stream.
People Also Study
Related Ohio Questions
- A net lease requires the tenant to pay, in addition to base rent:Property Management
- In Ohio, a landlord must give a tenant at least how much notice before increasing the rent on a month-to-month residential lease?Property Management
- In Ohio, which type of commercial lease is most favorable to the landlord during periods of rising operating costs?Property Management
- In Ohio, which type of commercial lease provides the landlord with the most protection against rising operating costs?Property Management
- A commercial lease requires the tenant to pay $18/sf base rent on 2,500 sf plus 15% of the tenant's gross sales above $400,000. If annual sales are $480,000, what is the total annual rent?Real Estate Math
- An Ohio property has a gross income of $50,000, a 10% vacancy loss, and operating expenses of $20,000. What is the NOI?Property Valuation
- A commercial property generates $120,000 annual gross income. Operating expenses are 45%. What is the NOI?Real Estate Math
- Under Ohio law, a landlord who refuses to allow a tenant with a disability to keep an emotional support animal (ESA) in a no-pet building is likely:Fair Housing
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 Ohio Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Ohio Quiz →