double net lease

Definition

A lease in which the lessee pays rent to the lessor, as well as all taxes and insurance expenses that arise from the use of the property. The lessor pays maintenance expenses.

Use double net lease in a sentence

You may want to try and take on a double net lease if you think that will be easier for you in the long run.

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The double net lease was preferred because the renter wanted to assume all maintenance and responsibility regarding the new property.

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Our company signed a double net lease and now my boss is complaining about having to pay for the taxes and insurance expenses on a leased property.

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gross lease net lease