A Triple Net Residential Lease Agreement (NNN Lease) is a rental contract between a tenant and landlord that stipulates how much of the tenant’s rent goes towards paying for the property’s operating expenses. The NNN Lease typically requires the tenant to pay for taxes, insurance and maintenance costs – leaving the landlord with just the lease payments to cover their investment. This type of agreement ensures that both parties understand their financial obligations and responsibility for managing and maintaining the property. With a Triple Net Lease, tenants benefit from greater flexibility when negotiating terms and conditions, while landlords enjoy predictability in their cash flow. It’s a win-win situation!