Rent based on a percentage rent.
The monthly cost of our net lease agreement is 1,200.
One will find that the definition of the phrase net lease is something that is most commonly associated with commercial real estate. A net lease is a form of pass through lease. One example would be where the taxes are associated with the said property.
Service versus Net lease. In a net lease the lessee has the responsibility to maintain the asset. In a service lease, the lessor provides the maintenance. By bundling a maintenance contract and a lease, the lessor provides an effective bond that maintenance will be performed.
The modified net lease is a compromise among the gross lease and the triple net. The landlord and tenant usually set up a divide of maintenance expenses, while the tenant agrees to pay taxes and insurance.
Triple Net Lease - with a triple net lease the tenant pays a base rent, taxes, insurance and also any charges for repairs and maintenance of the property.
NNN lease means triple net lease which is common in commercial leases. "Net Lease" is a term used to signify a lease structure in which the tenant or lessee is responsible for paying a portion all of the common expenses related to real estate ownership.
A triple net lease (Net-Net-Net or NNN) is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three 'Nets') on the property in addition to any normal fees that are expected under the agreement (rent, etc.). In such a lease, the tenant or lessee is responsible for all costs associated with the repair and maintenance of any common area.This form of lease is frequently used for commercial freestanding buildings. However, it has also been used in single family residential rental real estate properties.
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A triple net lease (Net-Net-Net or NNN) is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three 'Nets') on the property in addition to any normal fees that are expected under the agreement (rent, etc.). In such a lease, the tenant or lessee is responsible for all costs associated with the repair and maintenance of any common area.This form of lease is frequently used for commercial freestanding buildings. However, it has also been used in single family residential rental real estate properties.
A triple net lease is typically used for an open, unfinished commercial space.