Virginia Real Estate Exam Practice Question
In which type of lease does the tenant pay some or all of the operating expenses separately?
Correct Answer: B
Rationale: In a net lease, the tenant is responsible for paying some or all operating expenses in addition to the base rent, which can include property taxes, insurance, and maintenance costs. This arrangement allows landlords to reduce their financial burden and provides tenants with more control over these expenses.
In contrast, a gross lease typically includes all operating expenses within the rent, meaning the landlord covers these costs. A percentage lease involves rent based on a percentage of the tenant's sales, not operating expenses. A sublease refers to a rental agreement where the original tenant leases the property to another party, without changing the original lease terms regarding expenses.
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