Property Management
What is a 'triple net' (NNN) lease and what expenses does the tenant pay?
AA lease where the tenant pays three times the market rent
BA lease where the tenant pays base rent plus all three major expense categories: property taxes, building insurance, and maintenance/repairs✓ Correct
CA lease requiring three months' rent as a security deposit
DA Nevada residential lease requiring the tenant to pay all utilities
Explanation
In a triple net lease, the tenant pays base rent plus the three 'nets': (1) property taxes, (2) building insurance, and (3) maintenance and repairs (including structural). NNN leases are common for freestanding retail, national chains, and commercial properties in Nevada's Las Vegas, Henderson, and Reno markets.
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