Triple Net Purchase For Sale Florida
Description
How to fill out Triple Net Lease?
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FAQ
For property investors, who want to own a revenue-generating property and pay as little attention to it as possible, a triple net lease allows them to offload the work of managing things like maintenance and taxes to the renter. A triple net lease also gives the renter some flexibility and control over their expenses.
How do you calculate the triple net lease? The NNN lease is computed as the sum of base rent amount, property maintenance charges, tax, and insurance divided by the total number of months in the year, i.e., 12.
Cons of Triple Net Leases Tenants might invest some work and time in property management, from hiring repair companies to comparing and buying insurance and protesting taxes if needed. Some unexpected costs (in maintenance or tax liabilities, for example) may arise during the time of occupancy.
NNN ? Triple Net ?This type of lease rate includes the base rental rate plus the three N's. One ?N? stands for property taxes, one for property insurance, and the final ?N? stands for common area maintenance (CAMs).
How is the NNN Lease Calculated? NNN leases are computed by multiplying the total annual property taxes and insurance for the area by the entire rental square footage of the building.