Property Management
Which of the following best describes a 'net-net-net' (triple net) lease?
AThe landlord pays taxes, insurance, and maintenance
BThe tenant pays base rent plus property taxes, insurance, and all maintenance costs✓ Correct
CThe tenant pays only utilities
DThe rent is adjusted annually to market rate
Explanation
In a triple net (NNN) lease, the tenant is responsible for base rent plus all three 'nets' — property taxes, building insurance, and maintenance costs. This structure is common in commercial real estate.
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