What is a Triple Net Lease?

Meet TIM. He’s going to help you remember the triple net lease. In this instance, TIM is an acronym that stands for 

-Taxes

-Insurance

-Maintenance.

Triple net leases are common with commercial properties. In a triple net lease, the tenant pays, in addition to the rent, the taxes, insurance, and maintenance on the property. There are also single net (tenant pays taxes) and double net (taxes and insurance) leases. The variety of structures provides various advantages to both tenant and owner and opens up several points for discussion. 

Remember – when it comes to real estate, EVERYTHING is negotiable except for the location of the property. 

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