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As the rent collected under a net lease is "net" after expenses are passed through to tenants to be paid, the rent tends to be lower than rent charged under a "gross lease". Net lease types include single net, double net, and triple net leases, depending on the number of items they include. The term "net lease" is often used as a shorthand ...
A triple net lease (triple-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, utilities, etc.).
In United States real estate, a bond lease, also called an absolute triple net lease, true triple net lease or even a hell-or-high-water lease is the most extreme form of the NNN lease, in which the tenant is responsible for every fathomable real estate risk related to the property and is responsible for every single property related expense, even in instances of a material casualty/condemnation.
Usually, the lease is structured as a triple net lease, in which a tenant is responsible for insurance, property taxes, and most or all repair and maintenance costs. [2] When a landlord borrows money to finance the property, the lender needs adequate collateral in order to lend to the landlord who wants to buy the property.
Thanks to Triple Net leases, investors can enjoy the potential to collect stable, grocery-store-anchored income every quarter without worrying about tenant costs cutting into the bottom line.
Common area maintenance charges (CAM) are one of the net charges billed to tenants in a commercial triple net (NNN) lease, and are paid by tenants to the landlord of a commercial property. A CAM charge is an additional rent, charged on top of base rent, and is mainly composed of maintenance fees for work performed on the common area of a property
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