Wondering what does a NNN lease include? A Triple Net Lease (NNN), also known as a triple-net lease, is a type of commercial real estate lease agreement. Here’s what it includes:
Base Rent:
The tenant pays a fixed base rent to the landlord.
This rent covers the use of the property space.
Operating Expenses: The tenant directly pays for operating expenses, including:
Property Taxes: The tenant’s share of property taxes.
Building Insurance: Insurance costs related to the property.
Maintenance: Costs for maintaining common areas and building repairs.
Utilities:
If individual metering is available, the tenant pays utility providers directly.
Otherwise, the landlord apportions costs based on usage.
NNN leases provide transparency and control over expenditures, commonly used in commercial properties like retail centers, offices, and industrial spaces. I hope you get an idea of what does NNN include.
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What does a NNN Lease Include?
Akul
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5 months
2024-07-15T10:23:56+00:00 2024-07-15T10:23:56+00:00Comment
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