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NET LEASE

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

Lease for commercial real estate lease where the tenant pays for the space (as with a gross lease) and also part of the operating costs of the landlord. See also a triple net lease where the tenant pays the landlord’s costs of the following three items: taxes, maintenance and insurance. Such a net lease favors the landlord because these items general never decrease, only increase so caps on these amounts are usually critical for the tenant to negotiate.

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