IAAO 102 EXAM 2023-2024 ACTUAL EXAM 200

QUESTIONS AND CORRECT DETAILED

ANSWERS|AGRADE

A contract which calls for a fixed minimum base rent and a variable rent (overage rent) which is based on volume of business, sales, productivity, or use of the property, or use of the property by the tenant. - ANSWERPercentage lease Leases may or may not be in written form. This provides no security for the tenant or landlord. - ANSWER- Month to month - Short term The tenant is required to pay all or part of the operating expenses associated with the real estate. - ANSWER- Net lease The tenant pays some or all of the property expenses. - ANSWERSingle, double or triple net lease. Degrees between the the gross lease - ANSWER- Single and double net leases May require specific expenses to be paid by either tenant or landlord. - ANSWER- Triple lease