Riverside California Triple Net Lease for Residential Property

Name: Riverside California Triple Net Lease for Residential Property
Brand: US Legal Forms
Rating: 4.7 (431 reviews)

Category:

Landlord Tenant - Commercial Leases - Triple Net

State:

Multi-State

County:

Riverside

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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FAQ

Meaning of $/SF Year in the Commercial Rental Industry In the commercial leasing industry, $/SF/year or $/SF/yr means the rent per square foot per year. Why is this important? This is because most commercial rental rates are usually quoted in dollars per square foot on an annual basis.

In general, cap rates tend to vary based on location (and can range anywhere from 4% to 7%, though most tend to be somewhere between 4.8% and 5.25%), according to a few different variables including: Geographical Location.

NNN stands for net, net, net. It means that the tenant pays most of the expenses. They pay the rent fees plus property taxes, property insurance, and CAM, or common area maintenance. The NNN fees are added onto the base rental fee, which is usually calculated as a dollar-per-square-foot number like $15.

To determine the triple net lease amount for each renter, add those monthly expenses and the monthly rental per square foot charges and multiply it by the number of square feet a renter is leasing. That is the monthly triple net lease amount.

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.

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.

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 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.

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.

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Long term lease available on 2353 sq.ft. The California Apartment Association is the nation's largest statewide organization representing the rental housing industry.See pricing and listing details of Riverside real estate for sale. What does this mean for landlords and tenants in the Golden State? CMHA is a public housing authority located in Cleveland, Ohio. They Operate 224 Pizza Hut Restaurants in the Greater Los Angeles Market. With a triplenet lease, the user agrees to pay not only rent but real estate taxes, building insurance and maintenance on the property. In a triple net lease , the tenant pays for building maintenance, property insurance, and property tax in addition to monthly rent.

Riverside California Triple Net Lease for Residential Property

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What does $10.00 SF yr mean?

What is a good cap rate for a triple net lease?

What is $5 NNN?

How are triple net lease rates calculated?

Are triple net leases worth it?

What is typically included in a triple net lease?

How do you figure triple net lease?

How does NNN calculate rent?

What is the downside of a triple net lease?

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What is a Riverside Triple Net Lease for Residential Property?

Why would someone enter into a Riverside Triple Net Lease?

Does a Riverside Triple Net Lease mean the tenant is responsible for all property expenses?

What additional expenses might a tenant have to cover in a Riverside Triple Net Lease?

Are there any advantages to a Riverside Triple Net Lease for the tenant?

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