Posted by Ernest Tew on June 29, 2001 at 06:30:11:
Please see the other discussions on lease and options in this forum. A net lease or triple net lease of a park means that you are leasing the entire park and agreeing to pay all operating expenses. You take possession of the property and operate it as if you were the owner. The terms can be just about anything you and the owner agree to. Depending upon your negotiations and the amount of rent you pay, you may be able to get the owner to give you credit for some of the rent in the event you exercise the option. If the rent is relatively low or there is substantial growth potential, the option price might increase periodically.