Asked by
KARTIK KAPOOR
on Nov 09, 2024
Verified
A lease in which the tenant pays a base monthly rent plus some or all real estate taxes of the building is called a gross lease.
Gross Lease
A rental agreement where the landlord pays for all property charges regularly incurred by the ownership, such as taxes, insurance, and maintenance.
Base Monthly Rent
The recurring charge that a tenant agrees to pay each month for occupying a property, excluding additional fees or utilities.
Real Estate Taxes
Taxes levied by local governments on real property, such as land and buildings, based on the assessed value of the property.
- Gain insights into the differences in operational and financial impacts between leasing and owning facilities for business use.
Verified Answer
AF
Learning Objectives
- Gain insights into the differences in operational and financial impacts between leasing and owning facilities for business use.