A net lease of a hotel or retirement residence by a trust to an arm's length operator thereof generally would qualify as giving rise to qualifying rents .
However, a percentage participation under the lease in the gross revenues of the tenant would cause all of the rents of the landlord trust to not qualify as "rent from real or immovable properties", if such revenues of the tenant did not themselves qualify as "rent from real or immovable properties", eg., revenues for the use of hotel rooms.