BC Real Estate Trading Services Licensing Exam Practice · Question
Rajesh Sharma is a real estate licensee representing a prospective tenant looking for space in a shopping plaza in Victoria. The landlord offers a lease where the tenant will pay a fixed rent of $3,000/month plus their proportionate share of property taxes, building insurance, and all common area maintenance (CAM) costs. What type of lease is the landlord offering?
A triple net (NNN) lease requires the tenant to pay their share of property taxes, building insurance, and common area maintenance (CAM) costs, in addition to b
Start free practice for BC Real Estate Trading Services Licensing Exam Practice
242 questions · no signup required · 40 free questions per day
Question: Rajesh Sharma is a real estate licensee representing a prospective tenant looking for space in a shopping plaza in Victoria. The landlord offers a lease where the tenant will pay a fixed rent of $3,000/month plus their proportionate share of property taxes, building insurance, and all common area maintenance (CAM) costs. What type of lease is the landlord offering?
Answer options:
- A gross lease.
- A modified gross lease.
- A net-net (double net) lease. ✅ A triple net (NNN) lease.
Correct answer: A triple net (NNN) lease.
Explanation: A triple net (NNN) lease requires the tenant to pay their share of property taxes, building insurance, and common area maintenance (CAM) costs, in addition to base rent. The scenario explicitly states the tenant will pay all three of these 'net' expenses.
Start free practice for BC Real Estate Trading Services Licensing Exam Practice
242 questions · no signup required · 40 free questions per day
More about BC Real Estate Trading Services Licensing Exam Practice
Related Questions
- A developer, Grandview Developments Ltd., plans to build a new condominium project in Kelowna. They register a
- Michael, a real estate licensee, is assisting his client Jane in purchasing a commercial property at 123 Main
- A buyer, David, has entered into a Contract of Purchase and Sale for a vacant lot in Tofino. David's lawyer di
- Maria is purchasing a unit in a newly constructed strata building in Squamish. Her real estate licensee, Ken,
- A B.C. lawyer, acting on forged documents, fraudulently transferred a property located in Victoria from its ri
- A buyer is looking to purchase a home for $800,000 in Vancouver. They have saved a down payment of $100,000. W
More for BC Real Estate Trading Services Licensing Exam Practice candidates
Question explanations
- A developer, Grandview Developments Ltd., plans to build a new condominium project in Kelowna. They register a
- Michael, a real estate licensee, is assisting his client Jane in purchasing a commercial property at 123 Main
- A buyer, David, has entered into a Contract of Purchase and Sale for a vacant lot in Tofino. David's lawyer di
- Maria is purchasing a unit in a newly constructed strata building in Squamish. Her real estate licensee, Ken,
Ready to practice?
Free, no signup required. Build a wrong-question list as you go.
Start Free BC Real Estate Trading Services Licensing Exam Practice Practice →Related courses
Other Canadian certifications candidates often prepare for alongside this one.