What is a lease called where the tenant pays for rent, taxes, insurance, and maintenance?

A lease where the tenant is responsible for rent as well as additional expenses such as taxes, insurance, and maintenance is known as a triple net lease. In a triple net lease, the tenant agrees to pay these operational costs in addition to the base rent, which means that the landlord's financial responsibilities are significantly reduced. This type of lease is most commonly found in commercial real estate transactions, where tenants have more control over the property they are leasing and are often responsible for a larger portion of the property's day-to-day operating costs.

This arrangement benefits landlords because it provides a more predictable and stable income, as the tenant's payments cover not only the rent but also the ongoing expenses associated with property ownership. Understanding this type of lease is crucial for anyone involved in real estate activities, as it directly impacts the landlord-tenant dynamics and financial responsibilities associated with commercial leases.