triple-net lease

Triple-Net

A lease in which the tenant is responsible for costs in addition to rent. The tenant is responsible for net property taxes, net insurance, and net maintenance for the duration of the lease, which is the origin of the name. Because the tenant is responsible for costs that the lessor would otherwise pay, rent on a triple-net lease is usually lower than on other leases.

triple-net lease

A lease that requires the tenant to pay all costs and expenses associated with ownership of the property,including taxes,insurance,repairs,and maintenance. Contrast with gross lease.

References in periodicals archive ?
The company said it had signed a purchase contract to buy a 27,280 sq ft cardiac clinic on 5 June 2017 and that it was going to sign a new, 12-year, triple-net lease with the Lubbock Heart Hospital.
Under a triple-net lease, the tenant assumes responsibility of the property's ongoing operating costs (taxes, insurance, maintenance) in exchange for a long-term lease.
The 15-year, triple-net lease with 12 percent rent increases every five years and two five-year options to renew is now guaranteed by Advocate Health and Hospitals Corp.
Best Buy has a long-term triple-net lease on the approximately 45,231-square-foot building, which is located on a 4.
The company said it plans to produce increasing, reliable rental revenue by expanding its portfolio, and leasing each of its healthcare facilities to a single market-leading operator under a long-term triple-net lease.
The lease was a triple-net lease, and the accommodation party also assigned other leases associated with the property.
The property is leased to HealthSouth Mesa Rehabilitation Hospital under a triple-net lease agreement.
M2 EQUITYBITES-October 6, 2016-NHI, Bickford to Convert RIDEA JV to Triple-Net Lease Structure