This office lease form states that the lessor represents to the lessee that the existing fee mortgage is the only mortgage encumbering the land and the demised premises. The lessor agrees to cause the holder of the existing fee mortgage to agree to certain provisions.
Nevada Fee Mortgage Provisions from a Ground Lease
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US-OL20071
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How to fill out Fee Mortgage Provisions From A Ground Lease?
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FAQ
On one hand, ground lease payments (as an alternative to land acquisition) would be considered development costs and directly relate to other below-NOI items.
The Ground Lease Valuation Module, in contrast, puts the ground lease payments below NOI and seeks to calculate the value of the land by finding the present value of the ground lease cash flows at some user-defined discount rate.
Late Fees and Grace Periods When it comes to fees, the landlord-tenant laws in Nevada state that landlords cannot charge a value higher than 5% of the total cost of rent for fees. However, there aren't any laws regarding grace periods, which means that landlords may charge fees a day after the rent due date.
On the other hand, ground lease payments reduce the cash flow to the property owner and thus should be taken into consideration when estimating a cap rate-based valuation for disposition. This would mean that ground lease payments might have to be considered a part of operating expenses.
Ground rent capitalization is calculated as the annual income stream divided by the land capitalization rate, which represents a combination of an investor's required return and the capitalization rate for sales of similar properties in the same market.
Cap rate can help investors quickly assess the value of a property in comparison to other potential investments and is especially useful for commercial real estate investors. To calculate cap rate, follow this formula: (Gross income ? expenses = net income) / purchase price * 100.
Lessee Accounting: Impact on Balance Sheet and Income Statement. Under ASC 842, Leases, ground leases will be capitalized to the balance sheet through a ?right-of-use asset? and lease obligation.
Gross Lease / Full Service The tenant pays a flat rent amount, and the landlord pays for all property charges regularly incurred by the ownership of the property, including taxes, utilities, and water.