Article Synopsis
Triple NNN or Triple Net – A NNN lease is set up to have the Tenant pay a base rental amount each month to the Landlord. In addition to the base rent, the Tenant also pays all other expenses associated with the property such as property taxes, insurance and maintenance. NNN leases differ from true or absolute NNN leases usually only in landlord responsibilities. For example, a True NNN lease usually has no landlord responsibility where a general NNN lease may call for the Landlord to maintain the roof, walls and foundation…or some combination thereof. These leases can be used for all types of commercial properties and almost always apply to single user, leased property.
