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 1051 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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