| *The
list below provides general information about lease types but
is not a comprehensive list. Other parameters and guidelines with
relation to tenant costs versus landlord costs are subject to
points outlined in the individual lease.
Triple Net (NNN): A lease requiring
the tenant to pay in addition to a fixed rental, the expenses
of the property leases, such as taxes, insurance, maintenance,
utilities, cleaning, etc. The terms "net net", "net
net net", "triple net", and other such repetitions
are used.
Full Service (FLSV): A lease in which the stated
rent includes the operating expenses and taxes for the building.
Same as a Gross lease. Opposite of Net Lease.
Full Service Except Janitorial (FLSVEJ or FSEJ): A
lease in which the stated rent includes the operating expenses
and taxes for the building but excludes janitorial. Same as a
Gross lease. Opposite of Net Lease.
Gross: A lease in which the stated rent includes
the operating expenses and taxes for the building. Same as a Full
Service lease. Opposite of Net Lease. This is the least common
lease type.
Modified Gross (Mod Gross): A modified gross
lease sits somewhere between a Triple Net lease and a Gross lease.
Some expenses may be included in the lease. Utilities are most
likely paid by the tenant, however, utilities can be combined
depending how a building and its utility meters are demised.
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