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A triple net lease (triple-Net or NNN) is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three "nets") on the property in addition to any normal fees that are expected under the agreement (rent, utilities, etc.). In such a lease, the tenant or lessee is ...
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The term "net lease" is often used as a shorthand expression for any of these arrangements. The three most common expenses charged back are property taxes, insurance, and maintenance, often called the "three nets". [1] A triple net lease that includes the three nets is particularly common and is often abbreviated in writing as " NNN lease " but ...
Known for. Founder of Wharton Properties. Spouse. Rachel Sutton. Children. 5. Jeff Sutton (born 1960) is an American billionaire real estate developer and the founder of Wharton Properties. [1] In December 2023, his net worth was estimated at $2.3 billion by Forbes. [2]
Real estate properties may generate revenue through a number of means, including net operating income, tax shelter offsets, equity build-up, and capital appreciation. Net operating income is the sum of all profits from rents and other sources of ordinary income generated by a property, minus the sum of ongoing expenses, such as maintenance ...
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