Double Net (NN) Lease Agreement Template

DOUBLE NET (NN) LEASE AGREEMENT TEMPLATE FAQ

What is a Double Net (NN) Lease Agreement?

A Double Net (NN) Lease Agreement is a commercial lease where the tenant pays base rent plus certain “net” expenses, typically property taxes and property insurance, while the landlord usually covers most structural and common area maintenance costs.

How is a double net lease different from a triple net (NNN) lease?

In a triple net (NNN) lease, the tenant generally pays base rent plus property taxes, insurance, and common area/operating costs. In a double net (NN) lease, the tenant usually pays base rent plus property taxes and insurance, but the landlord typically remains responsible for most maintenance and common area operating expenses.

Who commonly uses a Double Net (NN) Lease?

Double net leases are often used for commercial spaces where the landlord prefers to retain responsibility for building upkeep but still wants the tenant to bear property taxes and insurance costs, such as certain retail, office, and smaller commercial properties.

What should be included in a Double Net (NN) Lease Agreement?

A clear NN lease should identify landlord and tenant, describe the premises, define the lease term, set base rent, allocate responsibility for property taxes and insurance, explain who pays for utilities, outline maintenance obligations, and include default and remedy provisions.

Does a double net lease mean the landlord pays all maintenance?

Not necessarily. While the landlord usually maintains structural elements and common areas, the tenant is typically responsible for routine interior maintenance and repairs within the leased premises. The lease should specify exactly who is responsible for which items.

Can AI Lawyer help me customize this Double Net (NN) Lease Agreement?

Yes. AI Lawyer can help you adapt this Double Net (NN) Lease Agreement with your specific property details, rent structure, tax and insurance allocations, and any special terms so you have a clear, organized document ready to review and sign.