Triple Net Lease Template - Page 2

What is Triple Net Lease Template?

A Triple Net Lease Template is a legal document that outlines the terms and conditions of a lease agreement in which the tenant is responsible for the payment of property taxes, insurance, and maintenance expenses. This type of lease is commonly used in commercial real estate and provides the landlord with a predictable income while transferring the financial responsibility for the property to the tenant.

What are the types of Triple Net Lease Template?

There are several types of Triple Net Lease Templates available, including:

Single-Net Lease: In this type of lease, the tenant is responsible for paying property taxes only.
Double-Net Lease: This lease agreement requires the tenant to pay property taxes and insurance.
Triple-Net Lease: The most common type of Triple Net Lease, this agreement requires the tenant to pay for property taxes, insurance, and maintenance expenses.

How to complete Triple Net Lease Template

Completing a Triple Net Lease Template can be done in a few simple steps:

01
Start by downloading a Triple Net Lease Template from a reputable source or using a trusted online platform like pdfFiller.
02
Fill in the required details such as the names of the landlord and tenant, the lease term, rent amount, and any additional terms or conditions.
03
Review the completed document to ensure accuracy and make any necessary revisions.
04
Share the lease agreement with all parties involved, and obtain signatures to make it legally binding.
05
Store a copy of the completed Triple Net Lease Template for future reference.

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Questions & answers

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.
Calculating a Triple Net Lease Triple net leases are calculated by adding the yearly taxes on the property and the insurance for the space together and dividing that amount by the building total rental square footage.
Avison Young says that NNN leases are one of the most secure investment opportunities. With this type of investment, you will always have a steady income coming in with very little responsibility and risk.
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.
A triple net lease is an agreement between a property owner and a tenant where the tenant pays property taxes, insurance premiums, and maintenance upkeep and repairs, in addition to a monthly rental fee of the building or space.
In a triple net lease, op/ex consists of three main elements: property taxes, insurance, and common area maintenance (CAM) fees. In a triple net lease, your annual rental obligation, called gross rent, will be your base rental rate plus operating expenses.