| Posted by: joe May 12 2004, 12:30 PM |
| What is the definition of triple net lease? |
| Posted by: loanuniverse May 12 2004, 09:00 PM |
This is not the academic version of the definition, but in my view:
Is the "set it and forget it" lease. Your tenant is essentially responsible for paying all of the maintenance, taxes, insurance and utilities associated with the property.
It is common on properties such as the ones used in retailing, but mostly where the tenant occupies the whole building.
The opposite is the “gross lease”, where the property owner pays most if not all of the associated expenses. I would say that this is common on industrial/warehouse buildings.
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