- net-net-net lease
A net lease where the tenant typically pays:• Base rent.• Real property taxes.• Building insurance.• Maintenance costs.The tenant is also typically responsible for all costs associated with the repair and maintenance of any common areas.The allocation of costs between the landlord and tenant may vary depending on the negotiated agreement. Under a triple net lease the tenant has few legal defenses which may relieve it of its lease obligations.A triple net lease is most commonly used when a tenant leases an entire freestanding commercial building.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
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net lease — see lease Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. net lease … Law dictionary
net-net lease — USA double net lease, Also known as net net lease or NN lease. A net lease where the tenant typically pays: • Base rent. • Real property taxes. • Insurance costs … Law dictionary
Net lease — Contents 1 Types of net leases 1.1 Single net lease 1.2 Double net lease … Wikipedia
Net Lease — A provision that requires the tenant to pay a portion or all of the taxes, fees and maintenance costs for the property in addition to rent. Net lease requirements are most commonly used with commercial real estate. There are three primary types… … Investment dictionary
net lease — Leases that require the lessee to pay expenses. For real estate leases, see triple net. For personal property leases, a net lease is a lease that requires the customer/lessee to pay for the insurance, maintenance, and all taxes, if any, levied on … Financial and business terms
net lease — noun Etymology: net (III) : a lease requiring the lessee to assume all operating expenses (as maintenance, insurance, taxes) in addition to the payment of rent … Useful english dictionary
net lease — Fin a lease that requires the lessee to pay for things that the owner usually pays for. See also gross lease … The ultimate business dictionary
Net lease — A lease arrangement under which the lessee is responsible for all property taxes, maintenance expenses, insurance, and other costs associated with keeping the asset in good working condition. The New York Times Financial Glossary … Financial and business terms
net lease — noun An agreement that requires the tenant to pay, in addition to the fixed rent, all of the property expenses which normally would be paid by the owner. For US real property these include real estate taxes, insurance, maintenance, repairs and… … Wiktionary
absolute triple net lease — USA absolute triple net lease. Also known as a bondable lease. An extreme variation of a net lease , where the tenant is typically responsible for all, or most, of the risks related to the real property. A tenant is usually responsible for all of … Law dictionary