How Does A Triple Net Lease Work

A triple net lease (triple-net or NNN) is a lease agreement on a property whereby the tenant or lessee promises to pay all the expenses of the property, including real estate taxesreal estate taxesProperty tax is a tax paid on property owned by an individual or other legal entity, such as a corporation. … It is calculated by a local government where the property is located and paid by the owner of the property. The tax is usually based on the value of the owned property, including land. › terms › propertytaxProperty Tax Definition – Investopedia, building insurance, and maintenance. These expenses are in addition to the cost of rent and utilities

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