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Sure thing! In a single net lease, the tenant pays property taxes. With a double net lease, they cover taxes and insurance. Triple net lease adds maintenance costs to the mix. Each type shifts more responsibility to the tenant, so choose wisely!
To get an accurate picture of your total costs with a triple net lease, add your base rent to the expenses for property taxes, insurance, and maintenance. Don’t forget those little extras can add up!
The risks can include unexpected maintenance costs or fluctuations in property taxes. If something big comes up, it’s the tenant’s responsibility, so it’s wise to do your homework and plan for a rainy day.
Absolutely! Just like any other lease, triple net lease terms can be negotiated. Whether it’s the length of the lease or who pays for repairs, it pays to have a conversation with the landlord.
When hunting for a triple net lease property, keep your eyes peeled for the location, condition of the property, and how reliable the tenant is. You’ll want to ensure it’s in a good neighborhood and the buildings are well-kept.
Choosing a triple net lease can be a smart move for tenants who want more control over the property. It often means lower base rent, and they usually get better lease terms. Plus, the tenant knows exactly what they're responsible for.
A triple net lease, often called NNN, is when the tenant pays for all the property’s expenses, including property taxes, insurance, and maintenance, on top of the rent. It’s a way for landlords to keep their hands off the day-to-day costs.
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Irvine California Space, Net, Net, Net - Arrendamiento neto triple