double net lease

double 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.
The allocation of costs between the landlord and tenant may vary depending on the negotiated lease, but the landlord is typically responsible for all other operating expenses, including structural repairs and common area maintenance.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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