Differences Between a Gross and Triple Net Lease
When it comes to leasing a property in residential or commercial real estate, there are two main types of leases: gross and triple net lease. Both have their own benefits and drawbacks, so it's important to understand the differences before signing on the dotted line. In this blog post, we'll take a closer look at both lease types and help you decide which one is right for you. Let's get started!
What Is a Triple Net Lease?
Also known as NNN lease, a triple net lease is a commercial leasing arrangement in which the tenant agrees to pay all operating expenses related to the property, in addition to rent and any other agreed-upon charges. The tenant is typically responsible for utilities, insurance, property taxes, and maintenance and repairs. Triple net leases are often used for properties that requi