A triple net lease (or "nnn" lease) is a form of real-estate lease agreement where the tenant or lessee is responsible for the ongoing expenses of the property, including real estate taxes.
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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.
These transactions are typically structured as long-term triple-net leases, where the tenant is responsible for all aspects of and costs related to the property during the lease term such. for it.
Net lease – Wikipedia – A triple net lease (triple-net or NNN) is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three "nets") on the property in addition to any normal fees that are expected under the agreement.
Net lease – Wikipedia – A triple net lease (triple-Net or NNN) is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three "nets") on the property in addition to any normal fees that are expected under the agreement.
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In this situation the building will quote rental rates in full service, which includes. triple net leases are most associated with single story buildings that are used.
A poorly structured or weak lease can easily leave you in the lurch with an unexpected vacancy or worse, a financially weak tenant who is unable to pay the expenses on a triple net lease property. One thing you should always verify is whether the lease is actually a net lease and if it is what type.