Renting out an apartment comes with so much hassles. The landlord is responsible for something as little as repairing any plumbing issues. Wouldn’t it be great to have a more adaptive solution to let the landlord relax and continue collecting rent without any further tensions? Well, that’s where a triple net lease steps in. Other than structural repairs, every thing is the responsibility of the tenants which makes the landlord’s job a lot more easy. What is a Triple Net Lease? The most popular type of a net lease, the triple net lease is commonly used for commercial properties. It is a rental agreement between the lessee and the landlord that comes with an obligation on the lessee. The obligation dictates that post-contract, the tenant is responsible for all kinds of operating expenses and not the landlord. Examples Consider the situation of a middle-aged man who has been working at…
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