Absolute net leases differ from triple net and other net leases because in this agreement, the tenant is required to a pay a base rent amount plus all expenses associated with the operational, maintenance, and repair of the facility. In this agreement, tenants experience the highest amount of responsibility for the space because they are responsible for all costs. In this scenario, the tenant is responsible for all financial risks that could arise from use of the space.
As a tenant, when reviewing lease proposals for commercial real estate, you should overview your lease agreement in detail before making the agreement. There are instances where a lease is advertised as a triple net lease, where tenant is responsible for some operational expenses, but upon reviewing of the terms, the agreement is more like an absolute net lease where tenant is responsible for all ownership expenses of the property. While the difference between triple net and absolute net leases may seem slight, they aren’t. An absolute net lease is an entirely different beast.
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