Lesson 2 – New Lease

Net Lease- tenant pays rent and also a share of the associated
operating expenses, including insurance, taxes, and/or utilities.

Often times nonprofits are leased a property where rent is paid, but
the three main “nets” are covered by the renter, including real estate
taxes, building insurance, and maintenance. –Triple Net Lease

Nonprofits can apply for property tax exemption on the part of the
property that they use, which would cover one “net.”

Pros & Cons

Lesson 2 – New Lease