Transcribed

Different types of office space leases - Gross versus Triple Net

COMMERCIAL LEASES WHICH RENTER EXPENSES ARE INCLUDED IN EACH? GROSS LEASE MODIFIED GROSS TRIPLE NET MAINTENANCE UTILITIES Y GROUNDSKEEPING JANITORIAL IT PROPERTY TAXES (S INSURANCE O Different amenities are included in each lease type UNDERSTANDING HOW TO BUDGET FOR EACH LEASE TYPE Gross leases are "fully serviced," meaning the rental price you are quoted already includes all of the additional expenses (listed above) that come with renting commercial real estate. 65% 100% Triple Net Leases do not include expenses such as maintenance or utilities. The rent quoted is for the space (about 65% of the total), and tenants are expected to pay additional expenses (35%) separately. Don't be intimidated by the different lease types and the costs that are associated with renting space. Learn how to differentiate each and ensure you're staying within your budget. Let one of our space advisors help get the spacce your business deserves www.thesquarefoot.com J thesquarefoot

Different types of office space leases - Gross versus Triple Net

shared by asusman103 on Jun 21

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Gross Lease - is a fully serviced lease where the landlord pays all or most of the expenses associated with the property. Very often, the costs are passed onto the tenants in rent in what is referred... to as a load factor. Gross leases are usually used in office properties. Triple Net Lease - is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance on the property in addition to normal rent. In such a lease, the tenant or lessee is responsible for all costs associated with the repair and maintenance of any common area. This form of lease is most frequently used for commercial freestanding buildings and retail space however, it has also been used in single family residential rental real estate properties.

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