Triple Net Lease Vs Absolute Net Lease
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How to fill out Triple Net Commercial Lease Agreement - Real Estate Rental?
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FAQ
Cons of Triple Net Leases Tenants might invest some work and time in property management, from hiring repair companies to comparing and buying insurance and protesting taxes if needed. Some unexpected costs (in maintenance or tax liabilities, for example) may arise during the time of occupancy.
Although there are many advantages to an absolute net lease, there are also some drawbacks. For tenants, this type of lease can be expensive as they are responsible for all expenses associated with the property. Additionally, tenants may find it difficult to make changes to the property without landlord approval.
In a single net lease, the tenant pays a lower base rent in addition to property taxes. Double net leases include property taxes and insurance premiums plus a base rent. A triple net lease includes property taxes, insurance, and maintenance costs.
The latter pays off maintenance charges, real estate insurance, and property taxes?in addition to rent. How do you calculate the triple net lease? The NNN lease is computed as the sum of base rent amount, property maintenance charges, tax, and insurance divided by the total number of months in the year, i.e., 12.
A conventional triple net lease (NNN lease) has a tenant being responsible for property taxes, insurance premiums and property maintenance costs. In contrast, the absolute net lease includes major building repairs.