Explain the terms gross lease, net lease, double-net lease, and triple-net lease.

Expert Solution

The answer to the following question:-

Gross Lease: this is a type of real estate lease where the landlord agrees to pay the operating cost that is associated with the use of the property. These operating costs also include other expenses such as taxes, utility bills like electricity and even the insurance amount.
Net Lease: this is a type of real estate lease where the tenant has to pay the operating costs associated with the use of the property on top of the rental agreement that he has entered in with the landlord.
Double net lease: this is a type of real estate lease where the tenant has to pay the operating cost as well as the insurance premium amount that is associated with the property.
Triple net lease: this is a type of real estate lease where the tenant has to pay the operating cost as well as the insurance premium amount and the taxes associated with the property.

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keosha answered 7 months ago

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