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What is a Triple Net (NNN) Lease?

April 26, 2017lease NET nnn triple

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What is a Triple Net (NNN) Lease?

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According to RealEstateGlossary.com a Triple Net Lease is “a lease that requires the tenant to pay all expenses of the property being leased in addition to rent. Typical expenses covered in such a lease include taxes, insurance, maintenance and utilities.” Technically speaking, a Triple Net Lease is mostly slang. There is legally only a Net Lease, but this is commonly referred to as a Triple Net Lease in the Real Estate industry. The three Ns making up the NNN Lease are the property Taxes, Insurance and Common Area Operating Expenses, which the Tenant will (in some fashion) be paying for.