NET Lease: the lessee
(tenant) pays the rent for occupancy and also pays maintenance and operating
expenses such as taxes, insurance, utilities and repairs. The rent paid is said
to be "net" to the lessor.
Single Net Lease: the
tenant is responsible for paying property taxes as well as the base rent.
Tenant/Lessee Pays - base rent,
property taxes
Landlord/Lessor Pays - building
insurance, building maintenance, other building expenses
Double Net Lease: the
tenant pays a base rent plus property taxes and building insurance.
Tenant/Lessee Pays - base rent, property taxes, building
insurance
Landlord/Lessor Pays - building
maintenance, other building expenses
Triple Net Lease: the
tenant pays a base rent plus property taxes, building insurance, and building
maintenance.
Tenant/Lessee Pays - base rent,
property taxes, building insurance, building maintenance
Landlord/Lessor Pays - other
building expenses
Gross lease: the
lessee (tenant) pays the rent only
Tenant/Lessee Pays - base rent only
(generally higher)
Landlord/Lessor Pays - property
taxes, building insurance, building maintenance, other building expenses