What is a Triple Net Lease?

A Triple Net Lease (sometimes referred to as a NNN Lease) is a lease between a landlord and a tenant for real property where the tenant agrees to pay for all of the expenses that would typically be the landlord's responsibility as the owner of the property, such as real estate taxes, insurance on the property itself, and routine maintenance. These payment obligations are in addition to other normal payments by a tenant under a real estate lease, such as rent and utilities.

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