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What maintenance is included in a triple net lease?

Double Net: Tenant pays rent plus property taxes and insurance. Triple Net: tenant pays rent, property taxes, insurance, and maintenance fees.

What is in a commercial lease California?

Types of Commercial Leases Property expenses include real estate taxes, property insurance, and common area maintenance. The first type of commercial lease is a gross lease, in which the landlord covers all property expenses and the tenant pays a monthly cost for rent of the space.

What is triple net lease example?

A triple net lease (triple-net or NNN) is a lease agreement on a property whereby the tenant or lessee promises to pay all the expenses of the property, including real estate taxes, building insurance, and maintenance. These expenses are in addition to the cost of rent and utilities.

Why is triple net lease good?

Benefits of a Triple Net Lease The most obvious benefit of using a triple net lease for a tenant is a lower price point for the base lease. Since the tenant is absorbing at least some of the taxes, insurance, and maintenance expenses, a triple net lease features a lower monthly rent than a gross lease agreement.

What is commercial lease agreement?

The Commercial lease agreement is an agreement between landlord and tenant to rent property with the intention to operate a business.

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