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a triple net lease is a type of lease agreement that's entered into between an owner or manager of commercial property and a tenant we'll go over everything you need to know about triple net leases as well as tell you how to get a free lease template triple net leases are commonly seen with retail industrial and free standing buildings when written out it looks like this the three ends stand for net net net how the ends relate to the contract is this in a triple net lease the tenant is responsible for payments on what's called the three nets property insurance real estate taxes and common area maintenance how expenses are paid costs of the three nets are usually estimated for the year and incorporated into a rent on a monthly basis at the end of the year if the costs were lower the tenant gets a refund if they were higher than previously estimated the tenant would then owe the difference it's important to note that most tenants will usually request the triple net amount to be capped b...
