Net, net, net lease (Net-net-net lease)
A lease agreement, usually long-term commercial or industrial, in which the tenant (lessee) agrees to pay all operating and property expenses in addition to periodic rent, including taxes, insurance, maintenance, utilities, and assessments.
Also known as a triple net lease.
Abbreviated as "NNN lease".
Added: Wed May 28 2008
Last Modified: Fri Jun 13 2008