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A net lease obligates the tenant to pay a portion of the landlord’s tax costs, in addition to a base rent based on square feet rented (net leases, also called “triple net” leases, typically also obligate the tenant to pay for portions of the landlord’s taxes and maintenance costs). There’s room for negotiation when it comes to the tenant’s “fair share,” and how high those shares are allocated.
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Understanding Triple Net Leases: Liability Insurance
If someone is injured on the landlord’s property, you and/or the landlord may be sued. Or, if you or the landlord accidentally damage...
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Triple Net Leases: Dividing Maintenance Costs Between Landlord and Tenants
Triple net leases require tenants in multi-tenant buildings to pay a portion of the landlord’s maintenance and operating costs. It’s important to understand and negotiate costs the landlord has “passed through” to you, and to press for specific exclusions.
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Negotiate the Best Lease for Your Business
Attorney Janet Portman has put together an excellent book for anyone negotiating a commercial lease. It covers all the important terms to ensure you get a favorable agreement.
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Commercial Net Lease for Entire Building
This form contains everything businesses and landlords need to create their own net lease for a building. In a net lease, the tenant not only pays rent, but also part of the building's operating costs. These costs include property taxes, insurance and maintenance.
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Commercial Net Lease for Part of Building
This form contains everything businesses and landlords need to create their own net lease for a space within a building. In a net lease, the tenant not only pays rent, but also part of the building's operating costs. These costs include property taxes, insurance and maintenance.