Triple Net (NNN) Commercial Lease Agreement Template
Sponsored Links
The Triple net (NNN) lease agreement is a type of commercial real estate contract is preferred by most landlords as the tenant pays not only a base amount of rent to the landlord but also any and all expenses and taxes incurred on the property.
Sponsored Links
The expenses may include;
- Any City, County, or State Real Estate Taxes
- *Maintenance of the building (CAM’s) (*Landlord is usually responsible for the roof any major structural defects)
- All Expenses including electricity, water, and sewer
The landlord is usually required to ‘fit-up’ the premises before this type of lease would take effect. Therefore, it is critical that the landlord make use of a rental application to ensure the entity is creditable. If the business has little to no assets or credit history, the landlord should have the tenant authorize a personal guarantee.
Sources
Sponsored Links