Virginia State Real Estate Exam Practice Question
Which lease type charges rent per square foot occupied?
Correct Answer: B
Rationale: A percentage lease charges rent based on a percentage of the tenant's sales, not a flat rate per square foot. A gross lease involves a fixed rent where the landlord covers operating expenses, so it does not vary with space occupied. A triple net lease requires tenants to pay for property expenses in addition to base rent, but still does not charge rent specifically per square foot occupied. In contrast, a variable lease adjusts rent based on specific criteria, but again does not focus solely on square footage. Thus, only the percentage lease directly ties rent to occupancy.
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