What is a Triple Net Lease? - EXPLAINED

Official Triple Net (NNN) Lease Agreement Template:
https://bit.ly/3IPYcTA

Triple Net (NNN) Leases are rental agreements between the owner or manager of commercial property and a new (or existing) tenant. While there are pros and cons to holding a triple net lease, the following are important characteristics of the agreement:

Tenant pays the “three nets”: property insurance, real estate taxes, and common area maintenance;
The tenant normally pays utilities and repairs; and
Leases are typically long-term.

Essentially, tenants are responsible for covering most property-related expenses with triple net leases — but if you’re a tenant, there are some plus sides. Landlords and tenants, watch the video above for all you need to know about Triple Net (NNN) Leases, and head to the link above for an official agreement!

Free Version:
https://eforms.com/rental/commercial/triple-net-nnn/

DISCLAIMER: This video is strictly for educational purposes and is in no way intended to provide legal advice. We do not make any warranties about the completeness, reliability, and accuracy of this information. Any action you take upon the information on this video is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of our videos.

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0:00 Intro:
0:28 Triple Net (NNN)
0:44 How Expenses Are Paid:
1:23 Pro-Rata Share:
1:48 What Are The Landlord's Responsibilities In A Triple Net Lease:
2:11 Why Use A Triple Net Lease:
2:27 Pros:
2:35 Cons:

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