Triple net lease ( NNN ) commercial real estate means that the tenant handles insurance, taxes and maintenance on the asset along with rent and utilities, leaving the landlord with minimal responsibilities.

For real estate investors who are sick of managing multifamily buildings or juggling a dozen different residential assets, they can be a great option if you want to 1031 exchange into something that's a little bit more hands-off (with the understanding that every asset will, at some point, require at least some of your attention).

With NNN, ongoing day-to-day maintenance is significantly lower than it is with other types of real estate that you directly own. No one will be calling you about a leak. No one will need you to fix a toilet. As long as the tenant keeps paying rent, your responsibilities are largely limited to filling out some paperwork here and there.

From just $107.88 $24.99 for Kiplinger Personal Finance

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