There are different kinds of Lease. The kind of lease that Jim have is Net lease.
Net lease is simply known as a contractual agreement that entails a lessee to pays a part or all of the taxes, insurance fees, and maintenance costs for a specific property plus rent.
This kind of lease is known to be the opposite of a gross lease which is where the tenant pays only for a flat rental fee while the landlord is known to pay for the other costs. Jim therefore uses net lease.
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Jim owns a gift shop in a commercial building. He pays rent for occupancy, plus maintenance and operating expenses. What kind of lease does Jim have?
Net lease
Percentage lease
Gross lease
Graduated lease
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