Arizona Space, Net, Net, Net - Triple Net Lease

• Category: Landlord Tenant - Commercial Leases - Triple Net
• State: Multi-State
• Control #: US-01668-AZ
• Format: Word; Rich Text

Description

This form is for the lease of a commercial building. The document also provides that this lease will in all respects be treated as a triple net lease with all costs and expenses paid for by the lessee, including, but not limited to, real and personal property taxes; fire, casualty, theft, and liability insurance; trash removal; water, gas, electricity and other utilities; repairs and maintenance and all improvements. Arizona Space, Net, Net, Net — Triple Net Lease is a commercial real estate leasing agreement commonly used for retail properties in Arizona. This type of lease structure is highly advantageous for property owners as it transfers a majority of the operational expenses to the tenant. Here is a detailed description of what Arizona Space, Net, Net, Net — Triple Net Lease entails, along with relevant keywords: 1. Arizona Space, Net, Net, Net — Triple Net Lease: This lease structure, also known as NNN lease, is an agreement where the tenant is responsible for paying the net amount of property taxes, insurance, and maintenance costs, in addition to the base rent. Keywords: Arizona commercial real estate, Triple Net Lease, NNN lease, retail property, commercial property, Arizona Space 2. Net Lease: Under a net lease, the tenant pays the base rent along with property taxes, while the landlord is responsible for insurance and maintenance costs. However, in a Triple Net Lease (NNN), the tenant pays all of these expenses. Keywords: Net lease, tenant responsibilities, property taxes, insurance, maintenance costs 3. Base Rent: The base rent is the fixed amount paid by the tenant to the landlord for occupying the space. It does not include any additional expenses, which are covered separately in a Triple Net Lease. Keywords: Base rent, lease payments, rental amount, tenant obligation, rent pricing 4. Property Taxes: In a Triple Net Lease, the tenant is responsible for paying property taxes directly to the local taxing authority. This transfer of tax liability from the landlord to the tenant is a key characteristic of NNN leases. Keywords: Property taxes, tax liability, tax payments, local taxing authority, NNN lease 5. Insurance: The tenant is also responsible for obtaining and paying for commercial property insurance coverage on the leased space. This includes liability insurance, property damage insurance, and other necessary insurance policies. Keywords: Insurance coverage, liability insurance, property damage insurance, commercial property insurance, tenant insurance obligation 6. Maintenance Costs: Triple Net Leases shift the burden of maintenance expenses to the tenant. This includes routine repairs, landscaping, janitorial services, and any other ongoing maintenance required for the property. Keywords: Maintenance costs, tenant maintenance responsibility, property upkeep, repair expenses, NNN lease provisions In conclusion, an Arizona Space, Net, Net, Net — Triple Net Lease is a type of real estate lease agreement commonly used in Arizona for retail properties. This lease structure transfers most of the operational expenses to the tenant, including property taxes, insurance, and maintenance costs, in addition to the base rent. It is an attractive option for property owners looking to minimize their financial obligations while providing the tenant with greater control over their leased space.

Arizona Space, Net, Net, Net — Triple Net Lease is a commercial real estate leasing agreement commonly used for retail properties in Arizona. This type of lease structure is highly advantageous for property owners as it transfers a majority of the operational expenses to the tenant. Here is a detailed description of what Arizona Space, Net, Net, Net — Triple Net Lease entails, along with relevant keywords: 1. Arizona Space, Net, Net, Net — Triple Net Lease: This lease structure, also known as NNN lease, is an agreement where the tenant is responsible for paying the net amount of property taxes, insurance, and maintenance costs, in addition to the base rent. Keywords: Arizona commercial real estate, Triple Net Lease, NNN lease, retail property, commercial property, Arizona Space 2. Net Lease: Under a net lease, the tenant pays the base rent along with property taxes, while the landlord is responsible for insurance and maintenance costs. However, in a Triple Net Lease (NNN), the tenant pays all of these expenses. Keywords: Net lease, tenant responsibilities, property taxes, insurance, maintenance costs 3. Base Rent: The base rent is the fixed amount paid by the tenant to the landlord for occupying the space. It does not include any additional expenses, which are covered separately in a Triple Net Lease. Keywords: Base rent, lease payments, rental amount, tenant obligation, rent pricing 4. Property Taxes: In a Triple Net Lease, the tenant is responsible for paying property taxes directly to the local taxing authority. This transfer of tax liability from the landlord to the tenant is a key characteristic of NNN leases. Keywords: Property taxes, tax liability, tax payments, local taxing authority, NNN lease 5. Insurance: The tenant is also responsible for obtaining and paying for commercial property insurance coverage on the leased space. This includes liability insurance, property damage insurance, and other necessary insurance policies. Keywords: Insurance coverage, liability insurance, property damage insurance, commercial property insurance, tenant insurance obligation 6. Maintenance Costs: Triple Net Leases shift the burden of maintenance expenses to the tenant. This includes routine repairs, landscaping, janitorial services, and any other ongoing maintenance required for the property. Keywords: Maintenance costs, tenant maintenance responsibility, property upkeep, repair expenses, NNN lease provisions In conclusion, an Arizona Space, Net, Net, Net — Triple Net Lease is a type of real estate lease agreement commonly used in Arizona for retail properties. This lease structure transfers most of the operational expenses to the tenant, including property taxes, insurance, and maintenance costs, in addition to the base rent. It is an attractive option for property owners looking to minimize their financial obligations while providing the tenant with greater control over their leased space.