What component is NOT typically included in a triple net lease?

In a triple net lease, the tenant agrees to pay for three specific costs associated with the property: real estate taxes, insurance, and maintenance of the property, which can include roof maintenance. The key aspect of a triple net lease is that it shifts the financial responsibility of these operational expenses to the tenant, rather than the landlord.

Building renovation costs, however, are typically not included in a triple net lease. Renovations are considered capital expenditures that enhance or extend the life of the property rather than operational expenses. Such costs generally fall under the responsibility of the landlord, as they are investments that affect the overall value and condition of the property, rather than ongoing operational obligations that would be customary for tenants to bear in a triple net lease arrangement.

Understanding this distinction is crucial for tenants and landlords alike, as it helps clarify financial responsibilities and expectations regarding property maintenance and improvements within the lease structure.