What describes the rights of a tenant under a gross lease?

Study for the Gold Coast Real Estate Exam. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

A gross lease is a type of rental agreement where the tenant pays a fixed amount of rent, and the landlord covers most, if not all, property expenses associated with the operation and maintenance of the property. This arrangement typically includes costs such as property taxes, insurance, and maintenance expenses, which the landlord is responsible for.

In this scenario, the tenant is not burdened with additional costs beyond the agreed-upon fixed rent, which allows them to budget more effectively and have clarity around their financial obligations. This structure is advantageous for tenants as it provides predictability in their housing costs without the surprise of fluctuating expenses throughout their lease period.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy