A lease structure in which the tenant pays base rent plus two of the three major property expense categories — typically real estate taxes and building insurance — while the landlord remains responsible for structural maintenance and repairs.
In a double net (NN) lease, the landlord retains responsibility for the building's structural components — roof, foundation, exterior walls — while the tenant absorbs property taxes and insurance costs. This is distinct from a triple net (NNN) lease, where the tenant typically assumes all three expense categories including maintenance. NN leases are common in multi-tenant retail and office properties where landlords want to retain control over structural integrity. Tenants should confirm precisely which maintenance items the landlord retains and which pass through, as "NN" is used inconsistently in practice.
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