Triple Net Lease Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Triple Net Lease, written in plain English, along with examples of how it is used.

What is Triple Net Lease?

It is a lease agreement where it is agreed by the tenant or leasee that he would pay all maintenance bills ( repairs, upgrades), property taxes and the insurance of that property , in addtion to the normal agreed rent.The rent is comparatively lower but the owner of the property is relieved as his financial responsibilities towards taxes,insurance and maintenance are taken care of by the leasee.