Property Management
In South Dakota, the 'triple net lease' (NNN) is characterized by the tenant paying:
AThe base rent only
BBase rent plus utilities only
CBase rent plus property taxes, insurance, and maintenance costs✓ Correct
DA percentage of their gross sales as rent
Explanation
A triple net (NNN) lease requires the tenant to pay the base rent plus all three main operating expense categories: property taxes, building insurance, and maintenance/repairs. This arrangement is common in commercial retail leases and shifts most property operating costs to the tenant.
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