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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.).
Net lease types include single net, double net, and triple net leases, depending on the number of items they include. The term "net lease" is often used as a shorthand expression for any of these arrangements. The three most common expenses charged back are property taxes, insurance, and maintenance, often called the "three nets". [1] A triple ...
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
These properties can range from a small retail property to a larger industrial or office building. They tend to provide very stable rental income secured by a long-term lease, often triple net ...
He also noted triple net leases as a standout feature with commercial real estate. “These leases transfer the property expenses such as taxes, insurance, and maintenance, to the tenants,” he said.
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 ...
A common example of this is the common area maintenance charges, or CAM, which includes cleaning and day-to-day expenses like changing lights. 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".
In commercial real estate there are two different categories of leases: gross leases and net leases. A gross lease is where the tenant pays a flat fee to the owner of the building and the owner is ...
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