Questions about a TRUE NNN lease? - Posted by Mike Williams

Posted by DB on July 29, 2008 at 06:10:49:

You’re correct. The lease he’s describing is usually called a NN lease. A true NNN lease means the owner has no responsibility. It’s rare to see a NNN lease on a multi-tenant building.

Questions about a TRUE NNN lease? - Posted by Mike Williams

Posted by Mike Williams on July 29, 2008 at 05:27:02:

I was under the impression that a NNN leased property tenant took care of all maintenance and any issues that arose with the building?

In this description it says that the NNN lease would exclude roof and structural repairs? Wouldnt this be considered a NN lease?

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Re: Questions about a TRUE NNN lease? - Posted by Mike S

Posted by Mike S on August 03, 2008 at 09:31:20:

I’ve heard it called “absolute NNN” when everything including the roof/structural is covered by the tenant. My understanding of triple net is that one N stands for the common areas (lawn care, snow plowing, any common utilities etc) another N stands for Taxes, and the third N is for insurance. So Yes, the property you’re looking at is a triple net deal since it excludes the roof and structural.

Re: Questions about a TRUE NNN lease? - Posted by john

Posted by john on July 30, 2008 at 14:59:15:

In some leases it makes it clear that the tenant is not responsible for the roof or structure, however if the tenant is supposed to pay association dues, these dues in effect cover these costs so it could be Triple Net.