- net lease
net lease see lease
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- net lease
A commercial real estate lease in which the tenant regularly pays not only for the space (as he does with a gross lease) but for a portion of the landlords operating costs as well. When all three of the usual costs—taxes, maintenance, and insurance—are passed on, the arrangement is known as a "triple net lease." Because these costs are variable and almost never decrease, a net lease favors the landlord. Accordingly, it may be possible for a tenant to bargain for a net lease with caps or ceilings, which limit the amount of rent the tenant must pay. For example, a net lease with caps may specify that an increase in taxes beyond a certain point (or any new taxes) will be paid by the landlord. The same kind of protection can be designed to cover increased insurance premiums and maintenance expenses.Category: Real Estate & Rental Property → Renters' & Tenants' Rights
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
- net lease
USAA lease where the tenant pays its base rent and additional rent to cover some or all of the expenses related to the leased real property. Typical expenses include taxes, insurance and maintenance charges.The scope of the tenant's additional rent payment obligations depends on the kind of net lease negotiated between the parties. Net leases can be any of the following, with triple net leases being the most common:
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
Look at other dictionaries:
Net lease — Contents 1 Types of net leases 1.1 Single net lease 1.2 Double net lease … Wikipedia
Net Lease — A provision that requires the tenant to pay a portion or all of the taxes, fees and maintenance costs for the property in addition to rent. Net lease requirements are most commonly used with commercial real estate. There are three primary types… … Investment dictionary
net lease — Leases that require the lessee to pay expenses. For real estate leases, see triple net. For personal property leases, a net lease is a lease that requires the customer/lessee to pay for the insurance, maintenance, and all taxes, if any, levied on … Financial and business terms
net lease — noun Etymology: net (III) : a lease requiring the lessee to assume all operating expenses (as maintenance, insurance, taxes) in addition to the payment of rent … Useful english dictionary
Net lease — A lease arrangement under which the lessee is responsible for all property taxes, maintenance expenses, insurance, and other costs associated with keeping the asset in good working condition. The New York Times Financial Glossary … Financial and business terms
net lease — noun An agreement that requires the tenant to pay, in addition to the fixed rent, all of the property expenses which normally would be paid by the owner. For US real property these include real estate taxes, insurance, maintenance, repairs and… … Wiktionary
net-net-net lease — triple net lease, Also known as net net net lease or NNN lease. A net lease where the tenant typically pays: • Base rent. • Real property taxes. • Building insurance. • Maintenance costs … Law dictionary
net-net lease — USA double net lease, Also known as net net lease or NN lease. A net lease where the tenant typically pays: • Base rent. • Real property taxes. • Insurance costs … Law dictionary
triple net lease — See: net lease Category: Real Estate & Rental Property → Renters & Tenants Rights Nolo’s Plain English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009. trip … Law dictionary
Triple Net Lease — A lease agreement that designates the lessee (the tenant) as being solely responsible for all of the costs relating to the asset being leased in addition to the rent fee applied under the lease. The structure of this type of lease requires the… … Investment dictionary