Miami-Dade Florida Triple Net Lease for Residential Property

Category:

Landlord Tenant - Commercial Leases - Triple Net

State:

Multi-State

County:

Miami-Dade

Control #:

US-01668-AZ-2

Format:

Instant download

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.

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Benefits of a Triple Net Lease The most obvious benefit of using a triple net lease for a tenant is a lower price point for the base lease. Since the tenant is absorbing at least some of the taxes, insurance, and maintenance expenses, a triple net lease features a lower monthly rent than a gross lease agreement.

Cons of Triple Net Leases For landlords who are locked into a long-term lease, they lose the ability to increase the rent if property values in the area increase. In the long-term, this can limit earning potential.

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. These expenses are in addition to the cost of rent and utilities.

A Triple Net lease is when the lessee pays a base rent plus property taxes, property insurance and Maintenance fees and is responsible for the roof, structure and foundation. This type of lease is in favor of the landlord.

Triple net lease (NNN) is normally a commercial lease where the lessee pays rent and utilities as well as three other types of property expenses: insurance, maintenance, and taxes.

Avison Young says that NNN leases are one of the most secure investment opportunities. With this type of investment, you will always have a steady income coming in with very little responsibility and risk.

Triple net lease (NNN) is normally a commercial lease where the lessee pays rent and utilities as well as three other types of property expenses: insurance, maintenance, and taxes.

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.

Miami-Dade Florida Triple Net Lease for Residential Property

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