Autograph Simple One Page Lease Agreement Made Easy

Index date lease

(lively electronic music). - Hi everyone, my name is Paul Vojchehoske, and welcome to the Real Estate Classroom YouTube channel. Real quick, do me a favor, give this video a thumbs up, hit that red subscribe button, and click on that little notification bell. In today's video, we're gonna discuss the different types of leases that you need to know for your real estate licensing exam. All right, so there's eight different types of leases that you need to know for your exam. So let's take a look at each one of them. All right, so let's start out with the Net Lease. Now the net lease is sometimes called a Triple Net Lease, because in a net lease, the tenant is going to pay a monthly or quarterly rent, or however the rent schedule is set up. Plus, there are three other items that they're gonna pay in addition to the rent. And that is gonna be, they'll be responsible for maintenance, property taxes, and also, the property insurance. So they're gonna pay those three items in addition to utilities as well. Net lease is sometimes called a Triple Net Lease, and again, you need to know that those are used interchangeably for the real estate licensing exam. The next one I wanna talk about is a Gross Lease. Now a gross lease is typically used in residential settings, all right, that's the first thing. Apartments and single family homes and those type of things. And typically, with a gross lease it's just one rent payment at the beginning of the month and that's it. It's just monthly rent, and then the owner is responsible for paying things like taxes and insurance. Now under a gross lease, the tenant may or may not have to pay utilities, that's gonna depend on the specific unit that's actually being rented out. So, we see these in residentially zoned type properties. And by the way, I forgot to mention, net leases, we typically see in commercial type settings. The next lease I want to talk about is a Percentage Lease. Now a percentage lease is what's typically used in retail establishments, such as malls and things like that. And the tenant is gonna typically pay a monthly rent, plus a certain percentage of gross sales. And it's important to know that it's gross and not net. That's a key point you're gonna have to know, in particular for brokers exams. I have had students say that when taking their brokers exam, make reference to that. So it's a certain percentage of gross sales, and typically with the percentage lease, we see that in retail outlets. All right, the next lease I'm gonna talk about is what's called a Sandwich Lease. Now we see sandwich leases when there is a subtenant. Now I did a video where I discussed assignment of leases and subleasing, or sometimes called subletting. If there's a subletting situation, this is when we're gonna see the sandwich lease come...