Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

net lease

Read a random definition: quae cadunt in non causam

A quick definition of net lease:

A net lease is a type of lease agreement used in commercial real estate. It means that the tenant not only pays rent but also other expenses like property taxes, insurance, and utilities. There are three types of net leases: single net lease, double net lease, and triple net lease. Triple net lease is the most common when a single tenant rents all or a large portion of the entire commercial property.

A more thorough explanation:

A net lease is a type of lease agreement commonly used in commercial real estate. It is an agreement between a landlord and a tenant where the tenant is responsible for paying not only the base rent but also other expenses related to the property, such as taxes, insurance, and utilities.

There are three types of net lease:

  • Single net lease (N lease): The tenant pays rent plus property taxes.
  • Double net lease (net-net lease or NN lease): The tenant pays rent plus property taxes and insurance.
  • Triple net lease (net-net-net lease or NNN lease): The tenant pays rent plus property taxes, insurance, common area maintenance charges, and any other charges designated for payment by the tenant such as utilities.

The most common type of net lease is the triple net lease, which is used when a single tenant rents all or a large portion of the entire commercial property.

For example, let's say a business owner wants to lease a commercial property to open a retail store. The landlord offers a triple net lease, which means the business owner will be responsible for paying not only the base rent but also property taxes, insurance, and maintenance charges for the common areas of the property. This type of lease is common in commercial real estate because it allows the landlord to transfer some of the expenses of owning the property to the tenant.

net income | net loss

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
LSD+ is ad-free, with DMs, discounts, case briefs & more.