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Triple Net Lease Agreement

oboloo Glossary

Triple Net Lease Agreement

A Triple Net Lease Agreement (or a NNN lease) is an agreement between a tenant and a landlord, where the tenant agrees to pay all of the property taxes, insurance, and maintenance costs associated with the rental property in addition to the monthly rent. It’s an option that is often chosen by landlords as it limits their responsibility to providing only the primary infrastructure and services for the rented premises. The tenant is also given more control over how they use the space, allowing them to develop the property as they see fit. In return, the landlord is assured that their out-of-pocket costs for the rental property are covered. So if you’re looking for an agreement that offers the best of both worlds – flexibility and certainty – a Triple Net Lease Agreement may be the perfect solution.

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