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A triple net lease (triple-Net or NNN) is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three "nets") on the property in addition to any normal fees that are expected under the agreement (rent, utilities, etc.).
Another variation of the NNN lease is the NN lease, or "Net-Net" lease, which is pronounced "double net" where the "net" amounts generally are property tax and insurance. [1] Double net leases, like triple net leases, are usually, though not always, single-tenant arrangements. However, the landlord carries some extra financial maintenance ...
In United States real estate, a bond lease, also called an absolute triple net lease, true triple net lease or even a hell-or-high-water lease is the most extreme form of the NNN lease, in which the tenant is responsible for every fathomable real estate risk related to the property and is responsible for every single property related expense, even in instances of a material casualty/condemnation.
Most of these lease agreements are triple-net leases, meaning it is the clients -- not Realty Income -- that assume the responsibility for things like taxes, insurance, and maintenance.
It has a recession-proof business model because it operates through triple-net leases, meaning its tenants pay for insurance, property taxes, and maintenance. It also generally leases its ...
In commercial real estate there are two different categories of leases: gross leases and net leases. A gross lease is where the tenant pays a flat fee to the owner of the building and the owner is ...