Property Management Licensing Practice Exam · Question
Daniel is a property manager for a commercial retail unit in Calgary. A potential tenant operating a dry cleaning business wants to sign a five-year triple net lease. Which of the following expenses would typically be the tenant's responsibility under this type of lease?
In a triple net (NNN) lease, the tenant is typically responsible for their proportionate share of property taxes, building insurance, and common area maintenanc
Start free practice for Property Management Licensing Practice Exam
259 questions · no signup required · 40 free questions per day
Question: Daniel is a property manager for a commercial retail unit in Calgary. A potential tenant operating a dry cleaning business wants to sign a five-year triple net lease. Which of the following expenses would typically be the tenant's responsibility under this type of lease?
Answer options: ✅ Property taxes, building insurance, and common area maintenance (CAM).
- Structural repairs to the roof and foundation of the building.
- Mortgage payments on the property.
- The property manager's service fees for lease administration.
Correct answer: Property taxes, building insurance, and common area maintenance (CAM).
Explanation: In a triple net (NNN) lease, the tenant is typically responsible for their proportionate share of property taxes, building insurance, and common area maintenance (CAM) charges, in addition to base rent.
Start free practice for Property Management Licensing Practice Exam
259 questions · no signup required · 40 free questions per day
More about Property Management Licensing Practice Exam
Related Questions
More for Property Management Licensing Practice Exam candidates
Ready to practice?
Free, no signup required. Build a wrong-question list as you go.
Start Free Property Management Licensing Practice Exam Practice →Related courses
Other Canadian certifications candidates often prepare for alongside this one.