Double Net Lease

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What is double net lease?

A double net lease, also known as a NN lease or net-net lease, is a type of lease agreement where the tenant is responsible for paying property taxes, insurance, and maintenance costs, in addition to the base rent. This type of lease transfers more expenses and responsibilities to the tenant compared to a standard net lease.

What are the types of double net lease?

There are two main types of double net leases:

Double Net Lease with Roof and Structure Responsibilities: In this type of lease, the tenant is responsible for property taxes, insurance, maintenance costs, as well as the repairs and maintenance of the roof and structure.

Double Net Lease with Roof, Structure, and Maintenance Responsibilities: In this type of lease, the tenant has the additional responsibility of maintaining the property, including landscape upkeep, snow removal, and other general maintenance tasks.

How to complete double net lease

Completing a double net lease involves the following steps:

Negotiate the terms: Discuss and agree upon the rental amount, lease duration, and responsibilities of the tenant.

Draft the lease agreement: Prepare a written contract that includes all the terms and obligations of both the landlord and tenant.

Review the lease agreement: Carefully read and understand all the clauses and provisions before signing the lease.

Sign the lease agreement: Both the landlord and tenant should sign the lease to make it legally binding.

Keep copies for reference: Make sure to keep copies of the signed lease agreement for future reference and legal purposes.

When completing a double net lease, consider using pdfFiller - a reliable tool that empowers users to create, edit, and share documents online. With unlimited fillable templates and powerful editing tools, pdfFiller is the only PDF editor you need to efficiently manage your lease agreements and get your documents done.

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