I am looking for office space and I am confused about the different terminology
2006-07-21 02:42:54 · 10 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
A lease in which the lessee pays rent to the lessor, as well as all taxes, insurance, and maintenance expenses that arise from the use of the property.
It is hard to tell from your question but I am assuming the nnn is in addition to your $5 square foot rental payment which is usually calculated on an annual basis. For instance, if you are renting a 2000 sq. ft. office, the rent would be $10,000 for the year or divided by 12, $833 a month and since it was nnn, you would have to come up with the additional taxes and insurance and maintenance like cleaning or cutting the grass, washing the windows, etc. It shouldn't require major repairs but you better get that clarified!
2006-07-21 02:51:50 · answer #1 · answered by Sam B 4 · 1⤊ 0⤋
$5/sf means five dollars a square foot is the cost to rent the space. A triple net lease places the responsibility of all the expenses on the tenant, including taxes, repairs, maintenance, insurance, and generally even exterior maintenance. Triple net leases are most common when a single tenant occupies a building.
2006-07-21 02:52:56 · answer #2 · answered by Luke K 2 · 0⤊ 0⤋
It means $5 per square foot. A triple net lease is where the tenant is responsible for all costs related to the leasing of that property. For example, if you rent a single building for commercial space, a stand alone building, you are responsible for paying the utilities, repairs, shoveling snow, mowing the lawn, etc.
2006-07-21 02:49:08 · answer #3 · answered by 4XTrader 5 · 0⤊ 0⤋
$5.00/SF = 1' X 1' Times $5.00 EXAMPLE: 1,550 SF oFFICE SPACE = $7,750.00 OR A 20' BY 50' OFFICE = 1,000 sf WHICH C COST $5,000.00
Definitions of Triple net:
Form of commercial lease rental formula; tenant pays taxes, insurance, and maintenance and fixed rent above these amounts.
www.swlearning.com/blaw/jennings/realestate7e/glossary.html
Refers to the requirement for the lessee to pay for its share of the property’s taxes, insurance and operating expenses. (top)
www.malmomemphis.com/Glossary.htm
Rent stipulated in a lease in which the tenant agrees to pay a all of the landlord’s operating expenses and real estate taxes for the building.
corpfac.com/Vocab101.htm
2006-07-21 02:52:59 · answer #4 · answered by hunter 2 · 0⤊ 0⤋
$5.00 per S. F. 1000 S.F. = $416.66 +tax per month.
Triple Net means you are responsible for utilities, water repairs, insurance, liability, and maintenance. (basically, everything)
All they are providing you with is a space.
By the way, this is a common practice. The other option would be to rent an executive suite. The rent is much higher, however you only pay for your insurance.
2006-07-21 02:56:19 · answer #5 · answered by Nick R 3 · 0⤊ 0⤋
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2016-03-16 03:01:41 · answer #6 · answered by Anonymous · 0⤊ 0⤋
This part I know: the cost is $5 per square foot.
This I am guessing at:: "nnn" means non negotiable, in other words you can't offer $4 per sq. foot, it WILL be $5.
Hope this helps.
2006-07-21 02:48:19 · answer #7 · answered by MeMi96 2 · 0⤊ 0⤋
$5/sf, stands for 5$ for every square foot. As for the triple net, no idea.
2006-07-21 02:46:46 · answer #8 · answered by ★Fetal☆ ★And ☆ ★Weeping☆ 7 · 0⤊ 0⤋
$5/-sf = $5/- per square foot
calculate total area of the office space - multiply it by 5/= that's your rental
2006-07-21 02:48:32 · answer #9 · answered by charmer 3 · 0⤊ 0⤋
This is a really good question
2016-08-08 06:43:43 · answer #10 · answered by Anonymous · 0⤊ 0⤋