Florida Real Estate Practice Exam

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Which type of lease requires the tenant to pay rent and some property expenses separately?

Graduated
Gross
Net
Percentage

The correct answer is: Net

A net lease requires the tenant to pay rent as well as a portion of the property expenses, such as real estate taxes, insurance, and maintenance fees. This means that the tenant is responsible for covering these additional costs on top of the base rent payment. Option A, a graduated lease, is where the rent amount increases over time according to a predetermined schedule. Option B, a gross lease, is where the rent amount includes all property expenses, so the tenant does not have to pay them separately. Option D, a percentage lease, is where the rent is based on a percentage of the tenant's sales or profits.