An NNN Lease, commonly referred to as Triple Net, is a commonly used commercial lease structure that requires the tenant to pay, in addition to its monthly rent, all costs associated with the operation of the building. Here is an overview of Triple Net, or an NNN Lease, and key concepts to be familiar with.
What Is Triple Net?
Any number of costs can fall under a net lease, but Triple Net generally refers to the payment of property taxes, maintenance costs and insurance premiums, in addition to the base monthly rent. A Triple Net lease differs from a gross lease in that a gross lease is for a flat monthly amount, inclusive of all operational costs. Continue Reading