Tenant Not Responsible for Management Fees

Tenant Not Responsible for Management Fees



Facts: A bank tenant signed a triple-net lease for a standalone building in a shopping center. (Under a typical "triple-net" lease, the tenant pays all expenses, including property taxes and insurance, maintenance, and utilities, leaving the owner with no expense associated with the property.) Under the triple-net lease, the tenant would be responsible for property management tasks and their cost for its leased space, but also pay a share of the common area maintenance expenses for the rest of the property.

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