Coming back to the article we recently wrote about Triple Net Lease Structures, here is a quick overview of some other, less common lease structures and an explanation of the Term:
Gross Lease: The tenant pays a set sum or “gross” amount for rent and the landlord pays all real estate expenses. Sometimes these leases will also include utilities.
NNN (Triple Net/Net Net Net Lease): A net lease under which the lessee assumes all expenses of operating a property, including both fixed and variable expenses and any common area maintenance that might apply. However, the landlord is responsible for structural repairs. Referred to as a triple net lease or NNN. MOST COMMON IN ALBERTA.
Absolute NNN Lease: No landlord responsibilities. Tenant is…