What is a characteristic of a Net/Net Lease?

A Net/Net Lease is characterized by the tenant being responsible for some operating expenses in addition to the base rent. Typically, in a Net/Net Lease, the tenant covers not just the rent but also a portion of the property’s operating costs, which may include property taxes, insurance, and maintenance expenses. This arrangement allows the landlord to reduce their financial burden regarding property management costs.

The other options do not accurately capture the essence of a Net/Net Lease. For instance, stating that the tenant pays only rent would refer to a gross lease, where the landlord covers all expenses. Claiming the landlord manages all expenses also suggests a gross lease scenario. Lastly, mentioning additional fees for common areas leans more towards specific lease agreements often found in commercial or retail leases, but does not specifically define the nature of a Net/Net Lease. Thus, option A is the most accurate description of a Net/Net Lease relationship.