When commercial rental arrangements are being written out there are a few things to consider. Whether the landlord's responsibilities are limited as in a Triple Net Lease Property. Commercial rentals are not subject to the same set of laws that apply to residential rentals in some states. A common form of lease for commercial properties is a net lease.
A net lease, sometimes referred to as a triple net lease, is an arrangement whereas the lessee (usually the tenant) is responsible for all property taxes, maintenance, insurance and other costs associated with keeping the asset in good working condition.
Compared to a gross lease, the usual form of lease for residential properties. A gross lease is a lease for a set amount of rent each month, with the landlord paying all expenses of the property and its management.
Depending on the property type of the lease, a commercial lease can contain scheduled rent increases over the life of the lease.
Commercial Real Estate Financing Still Available
If a Multifamily Apartment Complex is of interest to you then contact us, HERE. We can also assist you with your Commercial Real Estate Mortgage and Net Lease Funding to purchase a CVS, Walgreens, Target, Publix or other property.
