Triple net lease In a single net lease (sometimes shortened to Net or N), the lessee or tenant is responsible for all costs associated with repairs or replacement of the structural building elements of the property. The net lease requires the tenant to pay, in addition to any normal fees that are expected under the agreement (rent, etc.). In such a lease, the tenant pays a gross amount of rent, which the landlord can use to pay expenses or in any other way as the landlord sees fit. This form is frequently used for freestanding buildings, such as outparcel developments or single-tenant "big box" sites. Bondable leases are typically used in so-called "credit tenant lease" deals, where the main driver of value is not so much the real estate, but the uninterrupted cash flow from the usually investment-grade.

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