In a triple net "NNN" lease, a tenant pays all expenses, including property taxes, insurance, maintenance, and utilities, leaving the owner with no expenses associated with the property. It makes sense for the owner to include management fees and utilities expenses under "operating expenses", and disclose that to the tenant in writing. Most tenants will refuse paying extra for management and utilities charge in a NNN lease. See VIKING BANK v. FIRGROVE COMMONS, LLC
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Apr 24, 2015