Bond Lease
Commonly called a "hell or high water" lease. Under this type of lease the tenant is obligated to continue paying rent no matter what occurs with the leased property. A Bonded Lease is a form of an absolute triple net lease where the tenant agrees to pay a monthly lump sum base rent as well as the property taxes, the property insurance, and the maintenance. What makes the bonded lease different from the absolute triple net lease is that there are no legal defenses for the tenant not honoring their obligations under the terms of the lease.

Absolute Triple Net (NNN Lease)
The tenant is responsible for all operating expenses including maintenance, repairs, and replacement for the entire property, without limitation. This is the type of lease that most investors expect when purchasing a triple net lease. There are few legal defenses for the NNN tenant not paying their rent and related expenses. An example of a possible defense for the tenant not to have to fulfill their NNN lease obligation would be if the property were to become subject to eminent domain proceedings.

Double Net Lease (NN)
The double net lease typically requires some level of owner responsibility for the property. Traditionally in a double net lease the owner is responsible for the structural components of the building such as the roof, bearing walls and foundation.

Modified Net (aka Modified Gross)
In this arrangement, the tenant pays their own utilities, interior maintenance, repairs, and insurance. The owner pays for everything else, including real estate property taxes.

Triple Net Synthetic
Tenant-in-Common (TIC) investments provide the real estate investor with the advantages of a triple net lease; someone else manages the property. Frequently TIC investments offer ownership in large institutional quality properties, with either single or multi-tenants, appreciation, cash flow and annual depreciation benefits. In addition to the net leased advantages, the lower initial investment required by TICs provides an opportunity for the investor to achieve greater diversification with their investment dollars.