Virginia Real Estate Exam Practice Question
In what type of lease does the landlord pay taxes, maintenance, and insurance?
Correct Answer: A
Rationale: In a gross lease, the landlord assumes responsibility for all operating expenses, including taxes, maintenance, and insurance, providing tenants with predictable rental costs.
In contrast, a net lease (B) requires tenants to pay some or all of these expenses, shifting financial responsibilities to them. A percentage lease (C) typically involves rent based on a percentage of the tenant's sales, without addressing who pays for additional costs. A triple net lease (D) specifically requires tenants to cover property taxes, insurance, and maintenance, further emphasizing their financial obligations. Thus, option A accurately reflects the lease type where the landlord covers these costs.
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