Keyword Analysis & Research: leasing triple net

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What does triple net mean in a commercial lease?

A triple net lease is a commercial lease in which the tenant is pretty much responsible for paying everything. They pay all or part of the taxes, insurance, and maintenance associated with the use of the property. These fees are paid in addition to the tenant's regular or base monthly rent.

What is an example of a triple net lease?

Triple net leases are commonly used in commercial properties, such as shopping malls and apartment buildings. For example, under a triple net lease of an apartment buiding, a lessee may agree to manage the property, rent the apartments, maintain the building, and pay all costs, including taxes, insurance and mortgage.

What does triple net lease include?

A triple net lease (triple-net or NNN) is a lease agreement on a property whereby the tenant or lessee promises to pay all the expenses of the property, including real estate taxes, building insurance, and maintenance. These expenses are in addition to the cost of rent and utilities.

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