triple net lease

Definition of "triple net lease"
  1. A type of lease where, besides the basic rent, the tenant also pays a share of the property taxes, insurance, and maintenance costs
How to use "triple net lease" in a sentence
  1. In a triple net lease, the leaseholder also covers the costs of maintaining the property.
  2. Triple net leases are quite common in commercial property contracts, especially in shopping centers.
  3. Under a triple net lease, the tenant absorbs more costs but potentially negotiates lower base rent.

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