Posted by Brady~CO on January 03, 2008 at 07:20:39:
Makes total sense… Thanks, I appreciate it!
Simple Question…I think - Posted by Brady
Posted by Brady on January 02, 2008 at 16:30:34:
I am looking at leasing an office space for myself. Have been looking at a few and found a few that I like. I have heard the term “Triple Net Lease” thrown around and I’m not sure what it means…can someone expound? Thanks
Re: Simple Question…I think - Posted by Jimmy
Posted by Jimmy on January 03, 2008 at 05:01:04:
in simplest terms, it means a lease where the tenant pays the insurance, property taxes and maintenance. the owner gets a rent check, and has no operating expenses.
Re: Simple Question…I think - Posted by Penny
Posted by Penny on January 04, 2008 at 14:20:53:
Typically, the taxes, insurance and maintenace are listed as CAM (common area management, which includes what Jimmy said) and are in addition to your rent.
In addition, if you are a tenant in a multi-tenant building, you will typically have a pro-rated share of the total building expenses. Some expenses will be based on your percentage of space leased and others are divided by the number of tenants.
In a multi-tenant building, typically the landlord or the landlord’s management agents coordinate everything and pays for it using the CAM.