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The document is a Multi-Tenant Triple Net (NNN) Lease Agreement outlining the terms and conditions between a Landlord and Tenant for leasing commercial real estate. It details the leased premises, lease duration, rent payment structure, security deposit requirements, permitted use of the premises, maintenance responsibilities, compliance with laws, operating costs, insurance obligations, and procedures for alterations. The lease also includes provisions for default, remedies available to the Landlord in case of Tenant's default, and various legal clauses ensuring both parties' rights and responsibilities.

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What does landlord pay in triple net lease?

A steady and predictable income stream for landlords, triple net lease is also known as the NNN lease. (In case of single net lease, a tenant needs to pay property tax; in a double net lease, he would pay property tax and insurance; in a triple net lease, he would pay property tax, insurance and maintenance.)

What is a triple net lease example?

Double net leases include property taxes and insurance premiums, in addition to the base rent. A triple net lease includes property taxes, insurance, and maintenance costs, in addition to the base rent.

What is a NNN lease agreement?

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.

nnn agreement china template

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What is the downside of a triple net lease?

Drawbacks to a Triple Net Lease There is an inherent danger in using a triple net lease with regards to the unknown. Unexpected and substantial damage to the property could significantly increase your monthly maintenance and repair costs.