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7. Triple net lease (NNN) A type of commercial real estate lease under which you typically pay the base rent, plus property taxes, building insurance and utilities, as well as other operating and maintenance costs. The landlord assumes no costs, other than those for structural repairs.

Triple net leased properties have become popular investment vehicles for investors seeking steady income with relatively low risk. Triple net lease investments typically consist of a portfolio of three or more high-grade commercial properties fully leased by a single tenant with existing in-place cash flow.

Effortlessly generating contracts starts with a simple contract template in Word. You can use your own or download and personalize an existing template you find online.

Triple Net Lease Pros and Cons Minimal Landlord Responsibilities.Long-Term Occupancy.Reliable Passive Income.Leases are Transferable.Protection from Expense Increases.Limited Upside Potential.Turnover Risks.

A triple net lease is the flipside to a gross lease, where the tenant pays a simplified, all-inclusive rent to the landlord, who uses that cash to cover the expenses of running the building as they see fit.

The most obvious benefit of using a triple net lease for a tenant is a lower price point for the base lease. Since the tenant is absorbing at least some of the taxes, insurance, and maintenance expenses, a triple net lease features a lower monthly rent than a gross lease agreement.

Launch Word. If Word is already open, click the File tab and select New. Type contract in the Search For Online Templates field. Scroll through the results to find a template that suits your needs or click on any of the categories in the left menu to filter your search results.