Question

In a _______, the tenant pays not only the rent for occupancy, but also pays maintenance and operating expenses such as taxes, insurance, utilities and repairs.

Answer 1

Answer: Triple net lease or NNN lease or net-net-net lease

Explanation:

Single Net Lease also called net lease or N lease: This is a type of lease in which the tenant pays for tax in addition to the payment of rent of occupancy which makes the landlord responsible for other expenses such as insurance and utilities.

Double Net Lease or net-net lease or NN lease: The tenant pays for tax and insurance expenses in addition to the rent of occupancy. The landlord is responsible for the other expenses.

Triple Net Leases or net-net-net lease or NNN lease: This is a type of lease in which the tenant pays forthe rent of occupancy and other expenses such as tax, insurance, utilities and repairs which leaves the landlord to charge lower rent.

The triple net Lease answers your question