Understanding the Basics of a Triple Net Lease Agreement

A triple net lease, often abbreviated as what is a triple net lease, is a type of commercial lease in which the tenant is responsible for not only the base rent but also three additional expenses: property taxes, insurance, and maintenance costs. This structure shifts a significant portion of financial responsibility from the landlord to the tenant, making it different from a standard gross lease where the landlord typically covers these expenses. For tenants, a triple net lease provides more control over the property’s operations, but it also comes with greater financial obligations. For more info click here #triplenetleasemeaning