what is an NNN tenant? - Posted by pk

import · February 4, 2002, 1:49am

Posted by Ben (NJ) on February 04, 2002 at 07:17:40:

In my tax foreclosure practice, sometimes I encounter surprised landlords when they find out NNN tenant has not paid re taxes for years and are facing foreclosure.
How does one insure that re taxes are being paid by tenant?

import · February 4, 2002, 1:49am

Posted by pk on February 04, 2002 at 02:49:41:

Does anybody know what an NNN tenant is? Thanks in advance…

import · February 4, 2002, 4:25am

Re: what is an NNN tenant? - Posted by Frank Chin

Posted by Frank Chin on February 04, 2002 at 05:25:33:

Hi PK:

NNN stands for Triple Net. The tenant pays RE taxes, insurance, expenses, i.e. utilities plus maintenance. Thus, the landlord collects payments “Net” of these items.

My dads rents some commercial property where the tenant pays RE taxes, expenses, but not insurance. That’ll make’em an NN tenants.

Then, there’s single net. Well, you get the idea.

Frank Chin