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Legal Dictionary

double net lease

Definition of double net lease

Further reading

In a double net lease (Net-Net or NN) the lessee or tenant is responsible for real estate taxes and building insurance. The lessor or landlord is responsible for any expenses incurred for structural repairs and common area maintenance. "Roof and structure" is sometimes calculated as a reserve, the most common amount is equal to $0.15 per square foot.

References:

  1. Wiktionary. Published under the Creative Commons Attribution/Share-Alike License.



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