Triple Net Lease Sample

These templates follow the official format of such a document and strictly follow the pattern that is universally accepted. It can also be used for other property types as well. A triple net nnn commercial lease agreement is a contract between a landlord and a tenant that pays for the three 3 nets property insurance real estate taxes and common area maintenance cam.

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This is a triple net lease meaning that the lessee agrees to cover all costs associated with the upkeep of the aforementioned property.

Triple net lease sample. Typically a triple net lease has an initial term of 10 years or more than that and often have built in rent increases. Benefits of triple net lease forms. Triple net leases follow a specific format. The lessee will pay for all maintenance repair improvements and alterations.

These costs are usually estimated for the year and incorporated into the rent on a monthly basis. Any alterations done must comply with the state law and have the lessor s prior and written consent. Some of them are as follows. If you own commercial real estate a triple net lease is a way to make sure your tenants cover all the expenses associated with owning and operating the property.

A bondable lease is also known as an absolute triple net lease true triple net lease hell or high water lease or an absolute net lease. Mostly triple net lease agreements are used for self governing commercial buildings and this usually happens with a single tenant. For example if the building burned down they would be the party responsible. Each net refers to another type of expense which typically include property taxes insurance maintenance repairs utilities and other items.

The tenant not only pays everything mentioned in the nnn lease but also takes on all other risks associated with the property. The triple net lease forms that you see here would come in handy in a number of situations.