What is a single net lease?

Single Net Lease Definition

A single net lease is a type of lease agreement in commercial real estate where the tenant agrees to pay one of the building's operating expenses, typically property taxes, in addition to the base rent. The landlord is responsible for all other operating costs, such as insurance, repairs, and maintenance. This type of lease offers a middle ground between gross leases, where the landlord assumes all expenses, and net leases that place more financial responsibilities on the tenant.

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