Property Management
What is a 'triple net lease' (NNN) in commercial property management?
AA lease where the landlord pays all expenses
BA lease where the tenant pays base rent plus property taxes, insurance, and maintenance costs in addition to rent✓ Correct
CA lease with three options to renew
DA lease covering three properties
Explanation
In a triple net (NNN) lease, the tenant pays the base rent plus the three 'nets': property taxes, building insurance, and maintenance/operating expenses. This shifts most ownership costs to the tenant, giving the landlord a predictable net income stream.
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