West Virginia Triple-Net Office Lease of Commercial Building
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How to fill out Triple-Net Office Lease Of Commercial Building?
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FAQ
With a triple net lease (NNN), the tenant agrees to pay the property expenses such as real estate taxes, building insurance, and maintenance in addition to rent and utilities. Triple net leases are commonly found in commercial real estate.
Any lease that requires a tenant to pay rent, property taxes, insurance, and maintenance expenses is a triple-net lease.
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.
Typically pass-through expenses include things like Common Area Maintenance (CAM), property taxes, insurance, utilities, janitorial, security and supply costs.
How to calculate a triple net lease. For a triple net lease, the lessee must pay the base rent, property taxes, insurance, and common area maintenance (CAM) expenses. These charges are often lumped into one estimated annual rate that the lessee is required to pay.
A triple net lease (triple-net or NNN) is a lease agreement on a property whereby the tenant or lessee promises to pay all the expenses of the property, including real estate taxes, building insurance, and maintenance. These expenses are in addition to the cost of rent and utilities.
The triple net lease (NNN) passes the costs of structural maintenance and repairs to the tenant in addition to rent, property taxes, and insurance premiums. Since additional expenses are passed on to the tenant, the landlord commonly charges a lower rent.
Triple net lease (NNN) is normally a commercial lease where the lessee pays rent and utilities as well as three other types of property expenses: insurance, maintenance, and taxes.