Tripe Net (NNN) Rent Explained

What is triple net rent or N-N-N? Triple net rent, or N-N-N rent, is a type of commercial lease agreement where the tenant is responsible for paying all the operating expenses of the property in addition to the Base Rent. The operating expenses include property taxes, insurance premiums, and maintenance fees. This means that the tenant is responsible for all the costs associated with the property’s operation and upkeep, and the landlord is only responsible for the structural components of the building. Triple net rent agreements are commonly used in commercial real estate leasing situations where landlords want to pass the property’s expenses on to tenants without having to manage those expenses themselves.