Triple Net Lease vs. Double Net Lease vs. Single Net Lease - What's the Difference?

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Commercial lease agreements operate differently from standard residential leases.

Most residential leases are written with the assumption that all maintenance and ownership expenses are paid by the landlord. The tenant pays a fixed monthly rent, which covers all of their costs to use the property, except for utilities. Residential leases also require the tenant to keep the premises clean and in the same condition the premises were in when the tenant began occupancy.

In commercial leasing, every expense is negotiable between landlords and tenants. Commercial landlords often assign responsibility for specific expenses to the tenant beyond simply paying their utility bills. Under a commercial lease, a tenant is usually required to keep the interior of the premises in good condition and repair, except for reasonable wear and tear.

Unlike gross lease agreements, which cover all tenant’s occupancy expenses, net lease agreements are written so that the tenant is directly responsible for specific expenses. But those expenses depend on whether they sign a single, double, or triple net lease agreement.

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