Contracts
What is a 'net net net' (NNN) lease and how is it used in Nevada commercial real estate?
AA lease where the landlord pays all expenses
BA lease where the tenant pays base rent plus property taxes, insurance, and maintenance/repairs — giving the landlord a net income stream with minimal management✓ Correct
CA lease for Nevada's commercial waterfront properties
DA lease requiring three independent guarantors
Explanation
A triple-net (NNN) lease requires the tenant to pay base rent plus all three nets: property taxes, building insurance, and maintenance/repair costs. This is the most common commercial lease structure in Nevada retail and industrial properties, providing landlords predictable net income.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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