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LSDefine

Simple English definitions for legal terms

net lease

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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

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9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
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