Question

Typically when leasing real property, the commission of the leasing agent is based on a percentage of:

(a)the first year's rent.
(b)cash paid by the lessee.
(c)total rents collected during the term of the lease.
(d)None of the above

Answer 1

The commission of the leasing agent is typically based on a percentage of the first year's rent.

Step-by-step explanation:

The commission of the leasing agent in typically based on a percentage of (a) the first year's rent. This means that the leasing agent's commission is calculated as a percentage of the total rent amount for the first year of the lease. The exact percentage can vary, but it is commonly around 4-6%.