Net Leasing Maintains Its Luster, Even Through Pandemic
While the pandemic upended many things, one thing remains constant: landlords prefer ‘net leasing’ to any other lease terms. Even the pandemic didn’t change that.
A net lease, as opposed to a gross lease, is one in which the tenant pays both rent and some of the expenses associated with the property. There are three types of net leases: single, double and triple net leases. In a single net lease, the tenant pays base rent plus property taxes. In a double net lease, the renter pays property taxes and insurance premiums, in addition to the base rent. A triple net lease includes property taxes, insurance, and maintenance costs and obligations, in addition to the base rent.
