What is a Triple Net Commercial Lease Agreement?

A triple net commercial lease agreement is a contract between a landlord and a tenant that requires the tenant to pay all the landlord’s expenses related to the property, including taxes, insurance, and maintenance costs. It is also known as a “net lease” because the tenant is responsible for all expenses associated with the property. The landlord is usually only responsible for the roof and structural repairs.

Benefits of a Triple Net Commercial Lease Agreement

A triple net commercial lease agreement provides several benefits for both the landlord and the tenant. For the landlord, the agreement ensures that all of the expenses associated with the property are taken care of by the tenant. This is beneficial because the landlord will not have to worry about paying for any of these expenses out of pocket. For the tenant, a triple net commercial lease agreement can provide some flexibility in terms of the length of the lease. Because the tenant is responsible for all expenses associated with the property, the tenant may be able to negotiate a shorter lease if they are willing to pay higher rents.

Things to Consider When Creating a Triple Net Commercial Lease Agreement

When creating a triple net commercial lease agreement, there are several things to consider. First, it is important to determine who will be responsible for what expenses. The landlord should be sure to include language in the lease agreement that outlines who will be responsible for taxes, insurance, and maintenance costs. Second, the landlord should make sure that the agreement includes language that outlines the tenant’s rights and responsibilities, such as the right to sublet or assign the lease. Finally, the landlord should make sure that all of the terms of the agreement are clearly stated and that any ambiguities or loopholes are addressed.

Sample Triple Net Commercial Lease Agreement Templates

Below are three sample triple net commercial lease agreement templates that can be used as a guide when creating a lease agreement for a commercial property.

Sample Triple Net Commercial Lease Agreement Template #1

This sample triple net commercial lease agreement is between [Landlord] and [Tenant], for the rental of the commercial property located at [Address]. The lease is for a period of [Term], beginning on [Start Date] and ending on [End Date]. The tenant agrees to pay the landlord the sum of [Rent] per month, along with all expenses associated with the property, including taxes, insurance, and maintenance costs. The tenant also agrees to abide by all other terms and conditions of the lease agreement.

Sample Triple Net Commercial Lease Agreement Template #2

This sample triple net commercial lease agreement is between [Landlord] and [Tenant], for the rental of the commercial property located at [Address]. The lease is for a period of [Term], beginning on [Start Date] and ending on [End Date]. The tenant agrees to pay the landlord the sum of [Rent] per month, along with all expenses associated with the property, including taxes, insurance, and maintenance costs. The tenant also agrees to abide by all other terms and conditions of the lease agreement, including the right to sublet or assign the lease.

Sample Triple Net Commercial Lease Agreement Template #3

This sample triple net commercial lease agreement is between [Landlord] and [Tenant], for the rental of the commercial property located at [Address]. The lease is for a period of [Term], beginning on [Start Date] and ending on [End Date]. The tenant agrees to pay the landlord the sum of [Rent] per month, along with all expenses associated with the property, including taxes, insurance, and maintenance costs. The tenant also agrees to abide by all other terms and conditions of the lease agreement, including any repairs and improvements that may be required.

Conclusion

A triple net commercial lease agreement is a great way for both landlords and tenants to ensure that all expenses related to a property are taken care of. When creating a triple net commercial lease agreement, it is important to consider all of the terms and conditions and make sure that any ambiguities or loopholes are addressed. The three sample triple net commercial lease agreement templates provided in this article can be used as a guide when creating a lease agreement for a commercial property.