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Real Estate

Commercial Lease

Texas

Asked on May 12, 2021

What is a triple net lease?

I want to understand these better.

1 Attorney answer

Answer

Real Estate

Texas

Answered 507 days ago

George O.

ContractsCounsel verified

Business Lawyer
Licensed in Texas
Free Consultation

A triple net lease designates the tenant (lessee) as having the sole responsibility for any and all costs associated to the asset being leased in the agreement, with those costs being the net real estate taxes on the leased asset, net building insurance, and net common area maintenance. The lease received its name from the three “net” fees and may also be called a Net-Net-Net Lease.

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