Two years ago you leased a 1,000 square foot office space to a tenant for a five -year lease. Operating Expenses are stopped at $10 per square foot. This year, actual expenses for the building were $12 per foot. How much will the tenant be charged for Operating Expenses? a) $10,000 b) $12,000 c) $ 2,000 d) $ 0

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Leasing

Leasing is a contractual arrangement in which someone (a lessee) pays the owner (or lessor) of a building, land, vehicle, or other asset for the use of that asset. The lease is the agreement between lessee and lessor.