Simply put, a triple net (NNN) lease is a lease structure where the tenant (usually in a single-tenant building) is responsible for paying a building’s operating expenses during their lease period, in addition to rent.

Expenses are usually tacked on to rent and utility payments, and can include costs such as taxes, maintenance fees, and building insurance.

The triple net lease is considered a turnkey investment, as the landlord is not responsible for paying the operating expenses.

A tenant taking over full responsibility of costs can be very beneficial for both the tenant and the building owner/landlord.