Property Management
What is a 'triple net' (NNN) lease versus a 'double net' (NN) lease in Delaware commercial real estate?
ATriple net requires three months' security deposit; double net requires two months
BNNN leases require the tenant to pay base rent plus property taxes, insurance, AND maintenance; NN leases require tenant to pay base rent plus taxes and insurance but the landlord handles maintenance✓ Correct
CNNN leases are for three-year terms; NN leases are for two-year terms
DBoth types are the same under Delaware law
Explanation
In a triple net (NNN) lease, the tenant pays base rent plus property taxes, building insurance, and maintenance/repair costs. In a double net (NN or net-net) lease, the tenant pays base rent plus property taxes and insurance, but the landlord retains maintenance responsibility.
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