Leasing Definitions – What is a “Triple Net Lease” (NNN or Net Net Net Lease)?
Definition: A Triple Net Lease is also known as Net Net Net Lease or NNN Lease. This is a type of net lease in which the tenant pays all or part of the taxes, insurance, and maintenance associated with use of the property. These fees are paid in addition to the tenant’s regular monthly rent. Triple Net leases almost always favor the landlord and should be carefully negotiated to limit how much the landlord can increase NNN fees each year. Related Terms: • Double Net Lease • Net Lease • Fully Serviced Lease • Rentable Square Feet • Usabl
