What is an absolute net lease in real estate?

What is an absolute net lease?

An absolute net lease, often referred to as a "triple net" or "NNN" lease with even more stringent terms, is a type of lease agreement in commercial real estate where the tenant assumes all expenses associated with the property, including property taxes, insurance, maintenance, repairs, and sometimes even structural repairs, in addition to paying the base rent. This lease places the maximum financial obligation on the tenant, making it as if the tenant were the property owner, providing the landlord with a very predictable income stream free from most financial responsibilities related to the property.

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