Net, net lease (Net-net lease)
A lease agreement, usually long-term commercial or industrial, in which the tenant (lessee) agrees to pay property taxes and insurance in addition to periodic rent, and the landlord (lessor) agrees to pay for property maintenance.
Also known as a double net lease.
Abbreviated as "NN lease".
Added: Wed May 28 2008
Last Modified: Fri Jun 13 2008