Tools For Your Toolbox - What are "Triple Net (NNN)" charges?

Triple Net (NNN) charges, are expenses the tenant is required to pay, in addition to a fixed rent amount. Triple nets are annual operating expenses of a leased property and include real estate taxes, insurance, and common area maintenance, etc. Typically a tenant's portion of the triple nets are based on the amount of square feet leased. These expenses can be referred to as "triple net", "net net net", "net" or other terms depending on which state you live in.