This form is for the lease of a commercial building. The document also provides that this lease will in all respects be treated as a triple net lease with all costs and expenses paid for by the lessee, including, but not limited to, real and personal property taxes; fire, casualty, theft, and liability insurance; trash removal; water, gas, electricity and other utilities; repairs and maintenance and all improvements.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés.
For your convenience, the complete English version of this form is attached below the Spanish version.
Suffolk New York Space, Net, Net, Net - Arrendamiento neto triple - Space, Net, Net, Net - Triple Net Lease
State:
Multi-State
County:
Suffolk
Control #:
US-01668-AZ
Format:
Word
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How to fill out Suffolk New York Space, Net, Net, Net - Arrendamiento Neto Triple?
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A triple net lease (triple-net or NNN) is a lease agreement on a property whereby the tenant or lessee promises to pay all the expenses of the property, including real estate taxes, building insurance, and maintenance. These expenses are in addition to the cost of rent and utilities.
Triple net properties are one of the most attractive real estate investments for a variety of reasons: they can offer low risk, minimal responsibilities for the landlord, and long-term passive income.
In a single net lease, the tenant pays a lower base rent in addition to property taxes. Double net leases include property taxes and insurance premiums, in addition to the base rent. A triple net lease includes property taxes, insurance, and maintenance costs, in addition to the base rent.
Investing in triple net leases is profitable because the property owner (that is, the landlord) is relieved of responsibilities that cost more money. While this type of net lease is a good bargain, it also involves risks like every other investment.
The most obvious benefit of using a triple net lease for a tenant is a lower price point for the base lease. Since the tenant is absorbing at least some of the taxes, insurance, and maintenance expenses, a triple net lease features a lower monthly rent than a gross lease agreement.
Other net leases are a single net lease, in which the tenant pays property taxes, and a double net lease, which includes property taxes and property insurance. Triple net leased properties have become popular investment vehicles for investors because they provide low-risk, steady income.
Calculating a Triple Net Lease Triple net leases are calculated by adding the yearly taxes on the property and the insurance for the space together and dividing that amount by the building total rental square footage.
The very apparent disadvantage to the tenant in a NNN lease is the costs associated with the property that they have to bear no matter what. Unlike the rent of the property, which is pre-decided in the agreement, the costs are not fixed. Tax rates and insurance premiums can increase.
En Triple Net el inquilino es responsable de pagar los tres principales gastos del inmueble: impuestos, seguros y manutencion. De ahi el nombre NNN, es decir, neto, neto, neto, mencionando estos tres gastos principales.
El arrendamiento neto Net Lease Properties (NNN - arrendamiento neto triple) recibe este nombre porque el arrendatario es responsable de pagar los tres gastos principales ademas de su alquiler base: seguro, impuestos y mantenimiento.
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In a gross lease, the tenant only pays rent. FIGURE 2: ISLAND-WIDE INDUSTRIAL STOCK, IN NET LETTABLE.Zelle® is already in over a thousand banking apps.