NN Lease, Double-Net or Net-Net Lease DefinitionNN lease is a type of lease that usually requires the tenant/lessee to pay for property taxes and insurance in addition to the rent. The owner/lessor will pay for maintenance (roof & structural). This type of lease is not as desirable as a triple net lease for the owner. Why? Because it involves the owner in some of the management details & expenses. With a triple net lease, the tenant is responsible for all expenses, taxes and insurance. As an owner, you want most, if not all of your expenses "net" out of the lease. The forms of net leases are: N, NN, NNN, and NNN Bond lease. The only way to know exactly what expenses you are responsible for, is to read the leases carefully before you buy the property.
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