The double net lease is a type of lease agreement that is common with rental property in the market today. With this type of lease, the tenant and the landlord try to share some of the responsibilities and costs that come with the property. Here are a few things to consider about the double net lease.
With the double net lease, the tenant will pay the landlord an agreed-upon amount of rent just like every other type of lease agreement. However, in addition to paying rent, they will also pay for other things as well. The tenant will pay for the property taxes on the rental. They will also pay for the property insurance to cover damage to the property.
The only cost that the tenant will not pay for is the maintenance of the property. When it comes to maintenance, the owner of the property will be responsible for taking care of all of the associated costs. If some type of maintenance needs to be performed, the tenant can contact the landlord and let them know that something needs to be done. The landlord will then assess the maintenance requirements and will coordinate the necessary repairs to the property.