Definitions for "triple net lease"
Keywords:  nnn, lessee, tenant, rent, maintenance
A lease in which the lessee pays rent to the lessor, as well as all taxes, insurance,...
One in which the tenant is to pay all operating expenses of the property; the landlord receives a net rent.
A lease arrangement whereby the Tenant is obligated to pay for all the operating expenses associated with their space. They would have to contract individually for janitorial, electricity, insurance, and repairs. Not often seen in office buildings because many services overlap (i.e. there is a central air system, central restrooms). NNN leases can become expensive if surprise maintenance issues arise, or the property does not have an established expense pattern (it's new).