Lease term NNN means what?

In Leasing Property - Asked by Annette B. - Dec 7, 2012
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Answer(s)

Roy A.
Broker/Agent
Ormond Beach, FL

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.
Check out the web site for more info

Dec 7, 2012
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Glen W.
Lender/Mortgage Broker
Atlanta, GA

The NNN can mean various items depending on the lease. Roy's answer below is correct, but the term needs to be clearly defined in the lease so there is no confusion amongst the tenant and the owner

Jan 7, 2013
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Chris S.
Broker/Agent
Coeur D'alene, ID

NNN - property taxes, insurance and common area maintenance.

Feb 18, 2013
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