Maryland Triple-Net Office Lease of Commercial Building
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How to fill out Triple-Net Office Lease Of Commercial Building?
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FAQ
The biggest risk with a net lease is that if the main tenant default or declare bankruptcy, it can be incredibly difficult to find a new tenant to replace the original tenant.
Triple net lease (NNN) A type of commercial real estate lease under which you typically pay the base rent, plus property taxes, building insurance and utilities, as well as other operating and maintenance costs. The landlord assumes no costs, other than those for structural repairs.
The main disadvantage of a triple net lease in commercial real estate is the higher monthly costs as opposed to those in double or single net lease structures.
Despite their potential risks, NNN investment properties may provide investors with a reliable source of rental income, the stability of long-term tenants, and the benefits of dependable cash flow without the burden of property management.
While NNN properties for sale come with a range of cap rates, they are typically advertised with a cap rate of 5.5% to 7%. The higher the cap rate, the higher the risk and potential return on investment.
There are various ways that the amount of a triple net lease can be calculated. Sometimes landlords will add up all the property taxes, insurance, maintenance expenses, and common area expenses for a building and divide the total by 12.
The main disadvantage of a triple net lease in commercial real estate is the higher monthly costs as opposed to those in double or single net lease structures. Furthermore, since tenants become responsible for taxes, this puts them on the hook for any tax-related liabilities such as fines and penalties.
The three most common expenses charged back are property taxes, insurance, and maintenance, often called the "three nets". A triple net lease that includes the three nets is particularly common and is often abbreviated in writing as "NNN lease" but is still pronounced as "triple net lease".
