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The term "Net Lease" is tossed around loosely in the net lease industry, often used when referring to a triple or double net lease; [citation needed] however, there is a definite distinction between a triple net and a double net lease even though some brokers erroneously use the term "Net Lease" to describe both.
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.).
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.
The company specializes in triple-net leases, which means that its tenants pay for maintenance, insurance, and property taxes. It also favors recession-proof businesses like the convenience stores ...
One of the easiest REITs to own is Realty Income (NYSE: O), which specializes in triple net leases on stand-alone retail properties, typically for recession-proof tenants like Walgreens and 7 ...
Companies can focus on growing their business without the complexities of net leases. Rent calculations can be made by analyzing or based on historical data for the property. The landlord and tenant can also agree on the amount and terms of the lease. A gross lease may cost the tenant more than if the property were used under a net lease.
The housing market continues its downturn as mortgage applications hit their lowest levels in three decades, according to data issued by the Mortgage Bankers Association (MBA).
However, this sale-leaseback transaction stuck Prospect's hospitals with triple-net leases, requiring that the hospitals pay rent, property taxes, and maintenance on the properties. [ 3 ] In 2021, Leonard Green once again attempted to sell the chain, this time aiming to sell to Prospect's other part-owners, David Topper and Sam Lee.