San Antonio Texas Net Lease of Equipment (personal Propety Net Lease) with no Warranties by Lessor and Option to Purchase
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FAQ
Gross leases are commonly used for commercial properties, such as office buildings and retail spaces. Modified leases and fully service leases are the two types of gross leases. Gross leases are different from net leases, which require the tenant to pay one or more of the costs associated with the property.
Carefree Net Lease / Net Lease This is the most common type of Lease. In the Additional Rent, as defined in the lease all operating expenses, all real estate or property taxes and all building insurance expense incurred by the Landlord, are passed through to the Tenant for payment of the Tenant's prorate share.
A double net lease (also known as a 'net-net' or 'NN' lease) is a lease agreement in which the tenant is responsible for both property taxes and premiums for insuring the building.
Most financial leases are "net" leases, meaning that the lessee is responsible for maintaining and insuring the asset and paying all property taxes, if applicable. Financial leases are often used by businesses for expensive capital equipment.
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.
Net leases generally include property taxes, property insurance premiums, or maintenance costs, and are often used in commercial real estate. In addition to triple net leases, the other types of net leases are single net leases and double net leases.
The term "net lease" is distinguished from the term "gross lease". In a net lease, the property owner receives the rent "net" after the expenses that are to be passed through to tenants are paid.
An absolute net lease is also referred to as a bond type lease because the tenant is responsible for all property expenses including the building structure, so it's like buying a bond to an investor. But I've heard it called a pure net lease.
In a triple net lease, op/ex consists of three main elements: property taxes, insurance and common area maintenance (CAM) fees. In a triple net lease, your annual rental obligation, called gross rent, will be your base rental rate plus operating expenses.