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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
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 ...
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 ...
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 ...
The “triple net” lease would make Costco responsible for all expenses, including maintenance and other costs such as leasehold excise taxes, which are paid in lieu of property taxes.
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