“Net lease” is a term used for an arrangement in which the tenant or lessee is responsible for paying, in addition to base rent, some or all of the expenses related to real-estate ownership. These expenses, often called the “three nets”, are property taxes, insurance, and maintenance. Because the rent collected under a net lease is net of expenses, it tends to be lower than rent charged under a gross lease. Net lease types include single net, double net, and triple net leases, with the term “net lease” often being used as a shorthand expression for any of these arrangements. A triple net lease (i.e., one that is net of all three of the major expense categories) is often abbreviated as “NNN lease“, but is still pronounced as “triple net lease”.
A weekly digest to keep you up to speed on the California Coronavirus outbreak.
March 16, 2020
Welcome to the first issue of our new weekly newsletter covering California’s experience with COVID-19, the novel s...