Definition
NNN leases pass through three categories of expenses. The tenant sees a base rent plus estimated NNN monthly, reconciled annually.
A commercial lease where the tenant pays taxes, insurance, and maintenance on top of base rent.
NNN leases pass through three categories of expenses. The tenant sees a base rent plus estimated NNN monthly, reconciled annually.
A retail tenant pays $20/SF base rent plus $6/SF NNN — reconciled at year-end against actual costs.
Charges beyond base rent that the lease treats as rent for enforcement purposes.
Verifying credit, eviction history, income, and references for a rental applicant.
Net operating income divided by property value, expressed as a percentage.
The pro-rata share of shared-space upkeep charged to commercial tenants.
The state of a resident being past due on rent or other lease charges.
Money held by a third party until a specific condition is met.