Triple-Net Lease

Business / Real Estate / Triple-Net Lease: A net-net-net lease where, in addition to the stipulated rent, the lessee assumes payment of all expenses associated with the operation of the property. This includes both fixed expenses, such as taxes and insurance, and all operating expenses, including costs of maintenance and repair. In some cases, the triple-net tenant even pays the interest payments on the lessors mortgage on the property leased. Strictly speaking, the term triple-net lease is redundant because net lease adequately describes the situation. Rather than rely on labels, however, the parties must examine the provisions of the lease to discover the extent of the tenants responsibilities.

Other Words for Lease

Lease Noun Synonyms: rental agreement or contract, sublease, sublet
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Predatory Release

Science / Biology / Predatory Release: Occurs when a predator species is removed from a prey species such as by great reduction in the predators population size or by the migration of the prey species to an area without major predators. Th MORE

Percentage Lease

Business / Real Estate / Percentage Lease: A lease, commonly used for commercial property, whose rental is based on the tenants gross sales at the premises. It usually stipulates a base monthly rental plus a percentage of any gross sales above MORE

Partial Release Clause

Business / Real Estate / Partial Release Clause: A mortgage provision under which the mortgagee agrees to release certain parcels from the lien of the blanket mortgage upon payment of a certain sum of money by the mortgagor. The clause is frequently MORE

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