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What does a net net lease mean?
Net lease A type of commercial real estate lease under which you typically pay for one incidental expense directly. In a single net lease, you usually pay the base rent plus property taxes (though in some cases, you might pay for insurance or utilities instead). The landlord pays all other expenses.
What is the difference between a gross lease and a net lease?
A net lease is the opposite of a gross lease in terms of payment for utilities, taxes, repairs and any other additional expenses. In a net lease, the predetermined rent is typically lower and the additional costs aren’t included in that set rate.
What is a single net lease in real estate?
A single net lease is a commercial real estate lease agreement in which the tenant agrees to pay property taxes in addition to rent. A single net lease is a form of pass through lease in which taxes associated with the property become the responsibility of the tenant instead of the landlord.
What does it mean to have a double net lease?
Net leases are just like owning property without actually having legal title over it. They are lease agreements between landlords and tenants where the tenant pays for rent and any other cost associated with the property in question.
Who is responsible for taxes on a single net lease?
A single net lease is a form of pass through lease in which taxes associated with the property become the responsibility of the tenant instead of the landlord. The landlord is responsible for the other operating expenses involved with running the property.
What does single tenant triple net mean in real estate?
A Single-Tenant Triple-Net property (also known as “Net-Lease”, “STNL” or “NNN”) refers to a property which is 100 percent leased to one tenant with a lease structure in which the tenant is responsible for all property-related expenses, leaving the landlord with minimal responsibilities.