What does Triple Net (NNN) mean in Commercial Real Estate
Triple net leases (NNN leases) are a type of commercial real estate lease that is very common and have become increasingly popular in recent years. This type of lease is sometimes referred to as a “net-net-net lease” or “all-inclusive lease” because the tenant is responsible for paying all of the expenses associated with the property. This includes taxes, insurance, and maintenance costs.
NNN leases are a great way for property owners to minimize their risk and maximize their return on investment. Since the tenant is responsible for all of the expenses associated with the property, the landlord does not have to worry about unexpected costs or fluctuations in the market. This makes NNN leases an attractive option for landlords who want to protect their investments and maximize their returns.
In most cases, the landlord will set a fixed rent amount and the tenant will be responsible for paying all of the expenses associated with the property. The tenant will usually be responsible for paying the taxes, insurance, and maintenance costs. The landlord may also be responsible for certain costs, such as utilities or janitorial services.
The tenant is also typically responsible for making any improvements or repairs to the property.
Amidan Group Real Estate