San Diego California Triple Net Lease
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How to fill out Triple Net Lease?
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FAQ
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 leases are the most common for multi-tenant industrial and retail properties. Operating expenses can be higher than for office space.
Benefits of a Triple Net Lease 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.
The Best NNN Properties 2022 Dollar General. Retail pharmacies. Gas & convenience stores. Fast-food/QSRs with drive-thrus. Early Education Centers & Child Care Assets.
Benefits of a Triple Net Lease 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.
A triple net lease is a type of commercial lease agreement requiring tenants to pay the property's operating expenses such as utilities, taxes, insurance, and maintenance fees in addition to base rent.
NNN is a good investment vehicle because it's a source of passive income with minimal responsibilities for the landlord. Tenants also benefit from a lower base rental rate than a gross lease agreement.
The tenant's ability to negotiate around a NNN leases is typically limited by the particular geographic area. In many areas, it is common practice to require a NNN lease if a tenant wants to lease commercial property. In other areas, especially in smaller cities, it may be less common to utilize NNN leases.
Cons of a Triple Net Lease-Tenants Tax Liabilities: Because the tenant is responsible for annual property taxes in a triple net lease, this also means that they will be prone to all the liabilities of taxes as well, including fines and penalties for late or incorrect tax remittance.
