Real Estate Property Management 2

Question 1

In a triple-net (NNN) lease, the tenant is responsible for:

Accepted Answer

Base rent plus property taxes, insurance, and maintenance

Answer

Base rent only

Answer

Utilities only

Answer

Common area maintenance only

Question 2

A percentage lease requires the tenant to pay:

Accepted Answer

Base rent plus a percentage of gross sales above a breakpoint

Answer

A fixed rent regardless of sales volume

Answer

Rent based on property tax assessment

Answer

Rent equal to a percentage of net income

Question 3

CAM (Common Area Maintenance) charges in a commercial lease are used to cover:

Accepted Answer

Shared costs for lobbies, parking lots, landscaping, and hallways

Answer

The tenant's private office maintenance

Answer

Property management fees only

Answer

Roof and structural repairs exclusively

Question 4

An estoppel certificate in commercial real estate is a document signed by a tenant that:

Accepted Answer

Certifies the current lease terms and status as accurate

Answer

Terminates the lease early

Answer

Transfers the lease to a new tenant

Answer

Waives the tenant's security deposit

Question 5

Constructive eviction occurs when a landlord:

Accepted Answer

Fails to maintain the property to a habitable standard, effectively forcing the tenant to leave

Answer

Serves formal eviction papers

Answer

Raises rent without notice

Answer

Refuses to renew the lease

Question 6

A holdover tenant who remains after the lease expires without permission becomes a:

Accepted Answer

Tenant at sufferance until the landlord acts

Answer

Month-to-month tenant automatically

Answer

Trespasser subject to immediate eviction

Answer

Life estate holder