Real Estate Specializing: Triple Net Lease Property

The primary purpose for a Triple Net Lease (NNN) property, places the responsibility to pay all property expenses upon the tenant or Lessor. These expenses include taxes, insurance premiums, maintenance, repairs, any upgrades, and utility bills. Also, additional expenses may include: Cost to repair any roof damage, heating, air conditioning systems, exterior parking surfaces, cleaning any carpet and miscellaneous expenses. The records of these costs have to be made available by the property owner to any prospective tenant for review, and consideration to manage these expenses. Sometimes NNN agreements, the landlord will collect from the tenant a monthly amount, will be added to a fund, which covers property maintenance costs. Most Triple Net Lease agreements are long term from ten to twenty-five years, and include the cost of living expense increases. Owners of these properties, enjoy the ease of maintaining their equity, since the tenant long - term lease contract, encourages them to maintain the integrity of the property and keep up to date, with any necessary repairs. Well known companies in the United States have Triple Net Lease properties: Jack-in-the-Box, Hartford Insurance, Goodyear Tire, International House of Pancakes, Applebee's, Tony Roma's, Steak & Ale, Burger King, Barnes & Nobles, Marie Callanders, Tac Bell, IBM, and Blockbuster Video. Also, including are beauty salons, groceries, retail stores, shopping centers, malls, and many more.