Under “Leases and Property Management,” the course explains that a net lease requires the tenant to pay base rentplus some or all of the operating expenses, such as property taxes, insurance, and maintenance (often abbreviated as T, I, M). Variations include single-net (N), double-net (NN), and triple-net (NNN) leases.
A gross lease has the landlord paying most operating expenses, with the tenant paying a single rent figure. A percentage lease bases part of rent on the tenant’s gross sales (common in retail). A sublease is a transfer arrangement, not a lease type that determines expense responsibility.
References (Course Outline/Study Topics): Maryland 60-Hour Principles and Practices of Real Estate — “Leases and Property Management” (Gross vs. net vs. percentage leases; expense allocations).
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