Which of the following is NOT a typical operating expense included in a net lease?

In a net lease arrangement, the tenant is generally responsible for paying not just the rent, but also a variety of operating expenses associated with the property. Typical operating expenses in this context include property taxes, insurance premiums, and maintenance and repairs. These costs are integral to the property's operation and are usually passed on to tenants.

Tenant improvements, however, are a different category altogether. These refer to alterations or enhancements made to the rental space to suit the needs of the tenant. Improvements are usually the responsibility of the landlord or negotiated specifically within the lease terms, which distinguishes them from the standard operating expenses seen in net leases. Thus, tenant improvements are not typically included as a recurring operating expense in a net lease, making them the correct choice for which expense is not generally covered.