Net Lease Classifications in Florida
Florida net leases shift operating costs from landlord to tenant: Single Net (taxes), Double Net (taxes + insurance), Triple Net (taxes + insurance + maintenance), and Absolute Net (everything including structural). NNN is most common for single-tenant retail and investment properties.
Types
- Single Net (N): base rent + taxes
- Double Net (NN): + insurance
- Triple Net (NNN): + maintenance/repairs
- Absolute Net: + structural, roof
NNN Popularity
- Predictable passive income for landlord
- Single-tenant retail, industrial, warehouse
- Easier to finance and sell
Termination
- Obligations end unless survival provisions
- Outstanding accrued obligations must be settled
- Security deposit covers potential costs
Related Terms
- Lease — Rental agreement
- Commercial Lease — Business rental
Barnes Walker Commercial Real Estate
Barnes Walker’s attorneys draft net leases for Florida commercial properties. Request a legal inquiry for assistance.
Florida Law Reference
Fla. Stat. Ch. 83, Part II
The Florida Residential Landlord and Tenant Act governs lease agreements, security deposits, maintenance obligations, and the eviction process.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC