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IAAO 102 EXAM 2026-2027 200
QUESTIONS AND CORRECT DETAILED
ANSWERS
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
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