I was wondering if there might be some information available as to why the owner of the Property of Buildings, that has a triple net lease with substantial Tenants, should carry their OWN Liability insurance and/or Property insurance?

New York Subscriber

If there is some part of the building or property that would not be covered by the triple net lease, e.g., parking lot, building roof, common areas, then the building owner would need insurance to cover the property and liability of those areas. Also, if there will be downtime when there is no tenant occupying the premises, then the building owner would be responsible for the unoccupied portion. Lastly, if there is a building defect or disrepair the tenant could come back on the landlord and make them liable.

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