double net lease
A double net lease is a type of commercial real estate lease where the tenant agrees to pay not only the base rent but also two additional expenses: property taxes and insurance. This arrangement reduces the landlord's financial responsibilities, as the tenant takes on more of the operating costs associated with the property.
In a double net lease, the landlord typically remains responsible for structural repairs and maintenance. This lease structure is common in commercial properties, such as retail spaces and office buildings, allowing landlords to have a more predictable income while giving tenants some control over property-related expenses.