Property taxes
Real estate taxes and assessments allocated under the lease.
Ask: Which parcels, assessments, adjustments, and credits are included?
Tax bill · assessment detail · allocation schedule
The cost beyond base rent
Three cost groups. One lease to check.
In a triple net lease, tenants generally pay a share of property taxes, insurance, and common area maintenance in addition to base rent. Your signed agreement defines the scope, allocation, limits, and billing process for each group.
The payment picture
Base rentSet by the rent schedule
+ Property taxesYour lease-defined share
+ InsuranceYour lease-defined share
+ CAMYour lease-defined share
A label on the bill does not prove that every amount charged under it is permitted.
What each net can contain
Read beyond the category name.
These are the usual groups, but the actual scope comes from the signed lease. Each deserves its own calculation and source records.
Insurance
Building-related premiums the agreement permits the landlord to pass through.
Ask: Which policies, limits, deductibles, and allocation method apply?
Policy summary · premium invoice · allocation schedule
CAM
Common area maintenance and shared operating costs defined by the lease.
Ask: Which services, fees, projects, and exclusions are in the pool?
Category ledger · invoices · CAM definition
Why the number changes
A higher bill is a question to explain.
Taxes, premiums, and operating costs can change. So can the tenant-share calculation and the credits for estimates already paid. A change is not itself an error; compare the current and prior statements with the lease and source detail.
See how the annual true-up works ↗Compare like with like
Same category
Did taxes, insurance, or CAM drive the change?
Same allocation
Did your share or the property cost pool change?
Same credits
Were your estimated payments fully applied?
Same lease rules
Were exclusions, caps, and fees handled correctly?
A practical review
Use four sources to understand the bill.
The goal is to turn an unexplained amount into a precise question supported by the agreement and records.
The definition
Find how the signed lease describes each NNN category and any specific exclusions or caps.
The allocation
Compare your premises area and the property denominator with the share used on the bill.
The statement
Trace actual costs, estimated payments, credits, and the resulting balance or refund.
The records
Request the source detail needed to explain a charge or a year-over-year change.
Keep the timeline in view
Check records-access and notice terms.
The lease may set a procedure and deadline for reviewing charges. Read it soon after the annual statement arrives and keep copies of any request.
Continue the review
Related guides.
Common questions
Before drawing a conclusion.
What does NNN include?
Triple net generally refers to property taxes, insurance, and common area maintenance paid in addition to base rent. The signed lease defines which charges are actually passed through.
Do NNN costs always increase?
No. Actual costs can rise or fall. A tenant's billed amount also depends on estimates, credits, allocation, and any lease limits.
Is every cost in those categories allowed?
No. A category label alone does not establish that every charge in it complies with the lease. Check definitions, exclusions, calculations, and records.
How do I review a change in my NNN bill?
Compare the current and prior statements by category, confirm your share and credited payments, then use the lease and supporting records to explain the difference.
Your next step
See your NNN terms together.
Start with a free lease preview. Add an annual statement if you have one, then review the initial questions before deciding whether a full report is useful.