triple net lease

Definition

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

Use triple net lease in a sentence

You may want to get involved in a triple net lease if you think that will be a better way to handle it.

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My real estate business agreed to lease a storefront to a convenience store on the condition that it paid all costs through a triple net lease.

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John was having difficulty keeping up with his triple net lease. He had the rent, insurance, and maintenance covered, but taxes required were over his head.

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gross lease net lease