Recruiter's Glossary

Examples: Opportunistic • Due Diligence • Absorption Rate

Triple Net Lease

Term from Real Estate industry explained for recruiters

A Triple Net Lease (also written as NNN Lease) is a type of rental agreement commonly used in commercial real estate. In this arrangement, the tenant pays all the property expenses in addition to rent - including property taxes, insurance, and maintenance. It's different from regular leases where the landlord handles these costs. Commercial real estate professionals work with these leases often, especially in retail and office properties. This type of lease is popular with investors because it requires minimal landlord involvement and provides steady, predictable income.

Examples in Resumes

Negotiated over 50 Triple Net Lease agreements for national retail chains

Managed a portfolio of NNN Lease properties valued at $25M

Successfully structured Triple Net lease terms for 10 shopping center locations

Typical job title: "Commercial Real Estate Professionals"

Also try searching for:

Commercial Real Estate Agent Real Estate Investment Manager Commercial Property Manager Commercial Leasing Agent Real Estate Asset Manager Commercial Real Estate Broker NNN Property Specialist

Where to Find Commercial Real Estate Professionals

Professional Networks

Job Boards

Industry Resources

Example Interview Questions

Senior Level Questions

Q: How do you evaluate the financial viability of a Triple Net Lease investment?

Expected Answer: A strong answer should cover analyzing tenant creditworthiness, comparing market rates, calculating potential returns, and assessing property condition and location. They should mention long-term value considerations and risk assessment strategies.

Q: What strategies do you use to negotiate Triple Net Lease terms with national tenants?

Expected Answer: Look for experience in handling lease negotiations with major companies, understanding of market standards, and ability to balance tenant requests with owner interests. Should discuss lease term length, rent escalations, and maintenance responsibilities.

Mid Level Questions

Q: What are the key differences between Triple Net Leases and other types of commercial leases?

Expected Answer: Should explain how Triple Net differs from gross leases and modified gross leases, particularly regarding expense responsibilities. Should demonstrate understanding of when each type is most appropriate.

Q: How do you handle maintenance disputes in a Triple Net Lease situation?

Expected Answer: Should discuss the importance of clear lease language, documentation process, and communication between tenant and landlord. Should mention typical resolution approaches and common issues.

Junior Level Questions

Q: What are the three 'nets' in a Triple Net Lease?

Expected Answer: Should clearly identify taxes, insurance, and maintenance as the three components that tenants are responsible for in addition to base rent.

Q: What types of properties typically use Triple Net Leases?

Expected Answer: Should mention common examples like retail stores, restaurants, office buildings, and industrial properties, with understanding of why these property types are suitable for NNN leases.