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A Triple Net Lease (NNN Lease) is the most common type of lease in commercial buildings. In a NNN lease, the rent does not include operating expenses. Operating expenses include utilities, maintenance, property taxes, insurance and property management.
Under the Act, the landlord pays the full cost of preparing the lease, including the mortgagee consent fee.
The Parties & Personal Guarantees. Lease Term & Renewals. Rent Payments and Expenses. Business Protection Clauses.
A security deposit is typically an amount equivalent to one or two month's rent, which is deposited by the tenant to secure, as far as money can, the tenant's performance of the tenant's obligations under the Lease.