What is an Absolute Net Lease?
An absolute net lease is a type of commercial real estate lease in which the tenant is responsible for paying all of the expenses associated with the property, including property taxes, insurance, and maintenance. The landlord typically has no responsibility for these expenses and does not provide any services to the tenant. This type of lease is also sometimes called a triple net lease or a NNN lease.
Under an absolute net lease, the tenant is essentially responsible for the entire property, including any repairs or renovations that may be needed. The landlord's only responsibility is to collect rent from the tenant. This can be attractive to landlords because it allows them to receive a steady stream of income without having to worry about the costs of maintaining the property.
However, tenants may find absolute net leases to be more expensive, as they must bear the full burden of all property-related expenses. It is important for tenants to carefully consider the terms of an absolute net lease and ensure that they are prepared to assume the responsibility for all property-related expenses before signing such a lease.
If you're a Tenant and/or Landlord in Louisville, KY, or its surrounding area, I'd be happy to analyze your unique situation and consult you on the best approach to take! Feel free to call/text me at (502) 536-7315 or via email at firstname.lastname@example.org.