net lease
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English
Noun
net lease (plural net leases)
- (business) An agreement that requires the tenant to pay, in addition to the fixed rent, all of the property expenses which normally would be paid by the owner. For US real property these include real estate taxes, insurance, maintenance, repairs and utilities.
References
- Principles and Practices of New Jersey Real Estate 6th Ed, by Frank W. Kovats, DREI.