NNN lease

Okay kiddo, let me explain what an NNN lease is! Have you ever done chores for your parents? Like, maybe you take out the trash, dust the furniture, or sweep the floor? Well, imagine that you're a landlord and someone is renting your building. In an NNN lease, the person renting from you not only pays rent but also takes care of some chores around the building.

The NNN stands for "triple net." This means the renter is responsible for three costs: property taxes, building insurance, and maintenance fees. So, the renter not only pays rent to use the building, but they also pay for these other things to keep the building running.

Let's say you have a tree next to your house that needs to be trimmed. Normally, the landlord would need to hire someone to do this work and pay for it themselves. But with an NNN lease, the renter would be responsible for hiring someone to trim the tree and paying for the cost of the service.

So, to sum it up, an NNN lease is when the renter not only pays to use the building but also takes care of some of the expenses that come with owning the building.