Property Management
In Wyoming, a gross lease means:
AThe tenant pays base rent plus all operating expenses
BThe landlord pays all operating expenses and charges the tenant a fixed gross rent✓ Correct
CBoth parties share operating expenses equally
DThe tenant pays only utilities
Explanation
In a gross lease, the landlord receives a fixed rent and pays all operating expenses (taxes, insurance, maintenance) from that rent. The tenant pays only the agreed gross rent. This is simpler for tenants but requires the landlord to accurately estimate expenses when setting the rent.
Related Wyoming Property Management Questions
- A Wyoming property management agreement must specify:
- Wyoming's Uniform Residential Landlord and Tenant Act (URLTA) covers:
- An important reason for a Wyoming property manager to conduct regular property inspections is to:
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