Atriple net lease(also known as an 'NNN' lease) is a lease agreement in which the tenant or lessee agrees to pay all real estate taxes, building insurance and maintenance, in addition to normal expected costs under the agreement (rent, utilities, etc.). In such a lease, the tenant or ...
Often referred to as NNN, triple net agreements are the norm in single-tenant, as well as multi-tenant, rental units. Under a single-tenant lease, the tenant exerts control over landscaping and exterior maintenance. In short, the tenant decides what the property looks like as long as the t...
Define BNP. BNP synonyms, BNP pronunciation, BNP translation, English dictionary definition of BNP. abbreviation for British National Party Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994,
Tenants generally are required to sign a commercial lease that details the rights and obligations of the landlord and tenant. The commercial lease draft document can originate with either the landlord or the tenant, with the terms subject to agreement between the parties. The most common type of ...
Control of an asset:Having a triple net lease (NNN) can allow you to maintain control of an asset without having to tie up cash in equity. So, when the lease term ends it can provide some additional options. You could either repurchase the asset, return and relinquish it, or even negot...
Membership Transfermeanstransfers byNNN Exchange of more than forty-nine percent(49%) ofthe non-managingmembership interestsin NNN Exchange orthe issuanceofadditional non-managing membership interests in NNN Exchange. Sample 1 Membership Transfer. Membership can only be transferred toa non-financial membe...
Occupancy Densitywith respect tothe ExpansionPremises inthePhase IITemporary PremisesBuilding shall be 4.5 people per one thousandrentable square feet. 10.Provided Tenantis not, and has not been,in defaultof any terms andconditions of thisLease, during the initial Term of theLease only,Tenant shal...
Common area maintenance is one of the three main components that make up operating expenses, the other two being insurance and property taxes. This, in turn, makes CAM part of what is called a Triple Net (NNN) Lease. For more information on triple net leases, read ourGuide to the Elemen...
To learn more about common office leasing terms, read our articleYour Guide to the Elements of a Commercial Lease (Terms, Definitions). Or to learn more about rental rate structures, readTypical Types of Commercial Leases in Austin, Texas (NNN Lease vs. Gross Lease, more). ...
What Does 'NNN' Mean in Commercial Real Estate? What Is a Nonqualified Dividend? What Is Net Asset Value? What Is a Non-Disclosure Agreement (NDA)? What Is Negative Carry? What Is a Non-Compete Clause? What Does Net-Net Mean?