Santa Clara California Triple Net Lease
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How to fill out Santa Clara California Triple Net Lease?
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FAQ
Calculating a Triple Net Lease Triple net leases are calculated by adding the yearly taxes on the property and the insurance for the space together and dividing that amount by the building total rental square footage.
Example: $15/SF In most cases (at least on the east coast of the US) this means you will pay $15.00 per square foot per year. Example: $15 per square foot for 1200 square foot would be calculated $15.00 X 1200 = $18,000 for the year or ($15.00 X 1200)/12 = $1,500 per month.
Example of Calculating Monthly Rent in a NNN Lease Let's say an office building has a quoted rate of $30 NNN. This means that the rent is $30 per square foot per year PLUS the NNN. The estimated operating expenses (aka NNN) are $10 per square foot per year. The total yearly rent you would pay equals $40 sf per year.
Triple Net Lease Expenses The tenant in a triple net lease pays for all three categories of expenses on top of his base rent, as well as his own personal insurance premiums, utilities, and for things such as janitorial services.
Cons of a Triple Net Lease-Tenants Tax Liabilities: Because the tenant is responsible for annual property taxes in a triple net lease, this also means that they will be prone to all the liabilities of taxes as well, including fines and penalties for late or incorrect tax remittance.
A triple net lease (triple-net or NNN) is a lease agreement on a property whereby the tenant or lessee promises to pay all the expenses of the property, including real estate taxes, building insurance, and maintenance.
Cons of a Triple Net Lease-Tenants Tax Liabilities: Because the tenant is responsible for annual property taxes in a triple net lease, this also means that they will be prone to all the liabilities of taxes as well, including fines and penalties for late or incorrect tax remittance.
NNN Properties in California are an excellent investment option. They offer greater cash flow, appreciation potential, and diversification. If you're looking for a safe investment that will pay off over time then it's definitely worth considering NNN properties in California!