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Making a Triple Net Lease
If you own commercial real estate, a Triple Net Lease (also called a "Net-Net-Net Lease" or "NNN Lease") is a way to make sure that your tenants cover all the expenses associated with owning and operating the property. Each "net" refers to another type of expense, which typically include property taxes, insurance, maintenance, repairs, utilities and other items. Typically used for free standing commercial buildings, this agreement may also be used for single-family residential rental real estate. When ready, you can click the button labeled "Make document" to take a closer look at our sample Triple Net Lease.
As with any legal agreement, Triple Net Leases are not legally binding until everyone has signed. This isn't a run-of-the-mill Triple Net Lease template. Any Triple Net Commercial Lease under a Rocket Lawyer membership can be reinforced by optional Document Defense® support from an attorney.
Even if you are new to the industry, it is always valuable to record the details of every rental in a lease. Using a Triple Net Lease will most likely be a smart move for you because of these benefits:
In the end, if you decide not to make a Triple Net Commercial Lease, you might not get to enjoy the benefits associated with having one.
The details that you may want to cover in the Triple Net Lease are:
As you probably expect, Triple Net Leases made with Rocket Lawyer also contain language related to late or overdue rent, smoking, acceptable usage of the property, and moving out before the lease ends. While building your document, you also can add more specifics related to insurance requirements, maintenance procedures, and furnishings. With the Rocket Lawyer document tool, you are able to add more custom modifications, if needed.
Fortunately, you will not have to start from scratch when putting your contract in writing. When using Rocket Lawyer, any landlord is able to create Triple Net Leases online with relative ease. Your contract will be built step by step, so you can be sure that it contains the proper details that you'll need. Ordinarily, given the level of customization, you could ultimately pay a traditional attorney fees in the hundreds of dollars, if not more.
To make your agreement legally binding, you must sign it, electronically using RocketSign®, or otherwise. The tenant should always receive a copy of your final agreement. With a Rocket Lawyer membership, you also will be able to make a copy of it, download it, and print it out as needed. You should also feel free to take a look at our larger repository of contracts and other legal documents for property owners and managers.
The law often changes over time. If you've got any particular hesitations or concerns about property rental laws, you can always ask an attorney. Hiring a legal professional to comment on contracts may be relatively time-intensive. Some attorneys will not even agree to review a document if they did not work on it. In the event that a lawyer does offer to give advice on your contract, they most likely would still charge their standard rate to do it. An easier and more cost-effective way to get a second pair of eyes on your document is to request help from attorney services at Rocket Lawyer. By becoming a Premium member, you can get your agreements reviewed or send specific questions. Whether you decide to produce additional copies of your Triple Net Commercial Lease or other documents for landlords, Rocket Lawyer is by your side.