what is triple net lease

In Buying Property - Asked by kimberly c. - Oct 24, 2008
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Kevin Z.
Broker/Agent
Brookfield, WI

A triple net lease (Net-Net-Net or NNN) is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three 'Nets') on the property in addition to any normal fees that are expected under the agreement (rent, etc.). In such a lease, the tenant or lessee is responsible for all costs associated with repairs or replacement of the structural building elements of the property.

Oct 24, 2008
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