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Rental tax may be assessed by your state or city. This tax is much like a sales tax—the government charges a percentage of the rent a landlord collects. The landlord passes that charge directly through to you. The rental rate tax varies widely from place to place. Ask your landlord how much it is in your area so you can fit it into your financial projections.

Triple net is the other expense you must pay with your rent each month. In some places, triple net is called “net, net, net.” In others, it is called “common area expenses” or “common area maintenance,” “CAM” for short. Triple net includes three expenses. The first expense is maintenance. This maintenance includes your share of the cost of managing the complex and of maintaining the parking lot, roof, signs, elevators, landscaping, and other shared resources. The second expense of triple net is your share of real estate taxes. The third is your share of any insurance your landlord keeps on the property.

Triple net is typically expressed in price per square foot just as rent is. Your landlord charges it annually but impounds it monthly. At the beginning of the year, your landlord makes an estimate of annual expenses. They divide that amount between the merchants in the complex (usually based on percentage of square footage). Then they divide your share by twelve so they can bill you monthly. At the end of the year, they check the actual triple net costs against the projections and either bill you for the balance due or refund the amount you overpaid.