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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 (rent, utilities, etc.).
Common area maintenance charges (CAM) are one of the net charges billed to tenants in a commercial triple net (NNN) lease, and are paid by tenants to the landlord of a commercial property. A CAM charge is an additional rent, charged on top of base rent, and is mainly composed of maintenance fees for work performed on the common area of a property
Another variation of the NNN lease is the NN lease, or "Net-Net" lease, which is pronounced "double net" where the "net" amounts generally are property tax and insurance. [1] Double net leases, like triple net leases, are usually, though not always, single-tenant arrangements. However, the landlord carries some extra financial maintenance ...
The name "NNN" refers to the real estate term "triple net lease" under which a commercial tenant is responsible for all its operating costs. This may include property taxes, building repairs ...
In United States real estate, a bond lease, also called an absolute triple net lease, true triple net lease or even a hell-or-high-water lease is the most extreme form of the NNN lease, in which the tenant is responsible for every fathomable real estate risk related to the property and is responsible for every single property related expense, even in instances of a material casualty/condemnation.
In US leases, it is common to group together CAM, property tax and insurance, in which case it is known as a "net-net-net" lease, or NNN lease, pronounced "triple-net". Another complication involved in recoverable expense calculations occurs due to changes in occupancy.
Hell or high water leases take the typical triple net lease a couple steps further by making the tenant to be responsible for every fathomable expense related to the property, which in effect makes the hell or high water lease the most extreme form of triple net leases. As with some other applicable transactions of hell or high water, this type ...
Triple net lease is a term used in real estate to describe a property owner that leaves all of the expenses to its renters. Realty Income is a leader in this space. Natural Resource Partners uses ...
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