Net Lease of Equipment is a type of lease agreement in which the lessee (the party renting the equipment) pays the lessor (the party owning the equipment) for the cost of the equipment, plus a predetermined amount for taxes, insurance, and maintenance. The lessee is responsible for all operating costs associated with the equipment, such as fuel and labor. The lessor is responsible for any repairs or upgrades necessary for the equipment to remain in good condition. The lessee pays a fixed monthly or quarterly lease payment to the lessor for the duration of the lease. There are two types of Net Lease of Equipment: a single-net lease and a triple-net lease. In a single-net lease, the lessee is responsible for taxes, insurance, and maintenance costs, in addition to the monthly lease payment. In a triple-net lease, the lessee is responsible for all three costs, plus any operating costs associated with the equipment.
Net Lease of Equipment
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