In a Triple Net lease, NNN... the tenant is responsible for their proportionate share of property taxes, property insurance, common operating expenses and common area utilities. Tenants are further responsible for all costs associated with their own occupancy including personal property taxes, janitorial services and all utility costs.
If the space is part of a larger building, the common area maintenance charges (CAMS) will be divided among the tenants of the building, generally based upon the tenant’s square footage percentage of the overall complex. In general, the landlord will be responsible for the structural integrity of a building.
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Dec 7, 2012