Property taxes
Check the tax bill, parcel, tax period, base-year terms, and tenant share.
Check: Tax bill · lease tax clause
NNN basics
Three cost categories. One lease to read closely.
NNN generally refers to property taxes, insurance, and common area maintenance. The exact costs, allocation, and review rights come from the signed agreement, not the shorthand name.
At a glance
01
Property taxes
Check the tax bill, parcel, tax period, base-year terms, and tenant share.
02
Insurance
Identify the permitted policies, property covered, premiums, and allocation method.
03
Maintenance
Review CAM categories, exclusions, fees, capital treatment, and year-end reconciliation.
The signed lease, annual statement, and available records determine what can be verified.
A practical review
What to read in each NNN category.
The three labels are a starting map. Your actual obligation depends on the definitions, exclusions, shares, and billing method in your lease.
Insurance
Identify the permitted policies, property covered, premiums, and allocation method.
Check: Policy schedule · insurance clause
Maintenance
Review CAM categories, exclusions, fees, capital treatment, and year-end reconciliation.
Check: CAM clause · category ledger
Review procedure
Record the lease-specific deadline and method for requesting records or objecting.
Check: Audit rights · notices section
An illustrative example
NNN is a category label, not a blank check.
A statement might group taxes, insurance, and CAM into one annual total. Separate the lines so each can be traced to its own lease rule and source record.
Illustrative review sequence. A line's presence does not establish that it is allowed or disallowed.
Illustrative review worksheet
Tax line
Match to tax bill, period, and share.
Insurance line
Match to policy premiums and permitted coverage.
CAM line
Match to categories, exclusions, and allocation.
True-up
Credit estimates already paid.
Go one step deeper
See how a triple-net lease is structured.
The NNN label describes the expense arrangement. The lease guide explains how rent and pass-throughs fit together.
Related guides
Keep the document trail together.
CAM vs. NNN
See how one cost category fits within the broader NNN arrangement.
Read the guide ↗CAM reconciliation
Understand the annual true-up.
Read the guide ↗NNN expenses
Review the types of charges that may appear.
Read the guide ↗Common questions
What the documents can tell you.
Does NNN mean every property cost is passed through?
No. The agreement defines the eligible expenses, exclusions, allocation, and any limits.
Is CAM the same thing as NNN?
CAM is commonly one component of NNN expenses. Taxes and insurance are other common components.
Does a flagged item prove an overcharge?
No. It is a question to verify against the signed lease, the annual statement, and supporting records. A charge can be valid even when it warrants review.
Is there a standard audit deadline?
No. Read the signed lease and amendments for the trigger, period, required action, recipient, and delivery method. Different review steps may have different rules.
Your next step
Start with your own lease language.
Upload a readable signed lease for a free preview. Add an annual CAM or NNN statement if you have one, then decide whether a full report would help organize your questions.