NNN lease management
Triple net lease management, fully recovered.
A triple net tenant pays CAM, taxes, and insurance on top of base rent. Vespy recovers all three and proves the numbers at year end.
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What NNN actually obligates
Each cost category can have its own pool, exclusions, and cap. A lease may be net of taxes but gross of insurance, or carry a base year on CAM only. Vespy models those terms on the lease.
- Separate recovery pools for CAM, taxes, and insurance
- Exclusions, gross-up target, and admin fee per pool
- Base years and caps set per pool
- Monthly estimates billed, then netted at reconciliation
Total occupancy cost, beyond base rent
A $28 base rate with $11 of NNN is a $39 deal. Vespy reports annualized base rent and rent per square foot, and recoveries bill against the same lease, so the all-in number is one query away.
Estimates through the year, actuals at the end
Estimates post as ordinary charges. The reconciliation nets them against the billable amount and issues a balance due or a credit through commercial AR.
NNN lease management questions
What is the difference between NNN and modified gross?
Under NNN the tenant pays CAM, taxes, and insurance on top of base rent. Under modified gross some of those costs sit inside the base rate. Vespy handles both, because the difference is the recovery terms on the lease.
Can I run separate pools for CAM, taxes, and insurance?
Yes, and you generally should. Each pool has its own exclusions, gross-up target, admin fee, and cap, so a lease can be capped on CAM and uncapped on taxes.
How are property taxes handled if they are reassessed?
As pool actuals. A reassessment changes the actual, the next reconciliation picks it up, and the trace shows the pool total behind the tenant’s share.
Does Vespy handle industrial single-tenant NNN?
Yes. A single-tenant building is the simple case: one lease, a 100% share, and usually no gross-up.
Stop reconciling in a spreadsheet.
Set up a recovery pool, abstract a lease, and run a reconciliation on the free trial.
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