Want to learn more? Read our blog on CAM charges and the commercial real estate lease. Check out the information video below where Craig and Jason share some helpful information on the NNN lease.
Toggle navigation. November 2, byKelly Kornegor. October 15, byKelly Kornegor. October 6, byKelly Kornegor. September 15, byKelly Kornegor. In this blog, we will explain exactly what these terms mean, how they affect both the tenant and the landlord, and how a triple net lease can give you more bargaining power in lease negotiations. Since evaluating leases can be daunting even for seasoned professionals, the best thing you can do to prepare yourself is to understand the different types of lease structures along with the benefits and obligations that accompany them.
First and foremost, you should always hire a qualified real estate attorney to represent you in reviewing any lease or purchase contract. If you are signing a legally binding document that is drafted by an opposing party, it needs to be properly reviewed and explained to you.
Those clauses affect how much you are going to pay for base rent and what other obligations or expenses get charged to you in the future, such as property taxes, insurance, and common area maintenance costs. Understanding this will help you properly evaluate all your options so you can confidently move forward with a particular property.
Those expenses include repairs and maintenance costs, trash removal, snow removal, landscaping, parking lot maintenance, security and fire safety, elevator maintenance, property management, exterior lighting and more. Depending on the property, utilities and janitorial may also be included in the Operating Expenses or CAM. With a Triple Net Lease, you typically pay the landlord one check per month, but that check is broken down into two main categories:.
Both your base rental costs and your triple net lease expenses are calculated on the square footage of the property that you occupy and lease. Triple Net leases are the most common type of lease you will find in retail properties, newer medical office buildings, hospital campuses, and the majority of traditional office buildings. Learn how your comment data is processed.
March 15, at pm. Hello, I just found your webbsite and I am hoping you can help me. I do not understand the terms of the lease and was wondering if you can help me. I am thinking about leasing a property that is ft. With annual rent increses of. March 17, at pm. August 25, at am. I am a small business owner in East Tennessee. My partner and I are planning to move the business and recently received a NNN lease.
Would you be able to consult us or can you refer someone in TN? Does a broker have to be State Licensed? August 29, at pm. Can you send us an email addressing my name in the subject line to: contact getdigsy. April 25, at am. Thank you for this explanation of the NNN lease. I am an entrepreneur looking for space for a non-profit. This is my first venture into business and I was beginning to wonder if I was taking on too much. This article spelled out with clarity and examples all the information I had questioned and put my mind a bit more at ease.
Thank you. June 19, at pm. I believe the area is perfect but I need some guidance since this is my first time opening a business. I would appreciate the help.
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