Net Lease World is Making it Easier

Net lease properties refer to a form of the lease on property where the tenant is required to pay an additional cost and the rent. The primary purpose of this kind of lease is to help landlords decrease the risk associated with renting out their property. There are three types of net leases which are triple, double, and single net leases. These net leases put a higher responsibility on the tenant based on the lease. To compensate for the increased cost of rent, the basic rent for the property is usually less than it would be without the added financial obligations.

Single Net Lease

One net lease is typically an N lease or simply a net lease. This kind of lease isn’t prevalent since triple or double net leases generally are more popular. In this kind of net lease, the tenant pays the property tax for the property they lease in addition to the rent. In turn, other costs associated with the property fall under the control of the property’s owner. These could include expenses like property insurance, utilities, and general maintenance of the building. To make a lease attractive to tenants, they usually must pay a lower rent on the building.

There are still obligations that the landlord is accountable for, and that is the possibility of a tenant not paying or being late with the payment of tax on property. This is why it’s more typical for landlords to incorporate the costs of taxes on property in the rental contract to ensure the tax is paid on time. If property taxes are not delivered in time, the landlord may be subject to penalties or other expenses.

Double Net Lease

Double net leases are usually known as an NN lease or net-net lease. This kind of net lease is more famous for rental properties, especially within the commercial property space. Maintenance costs remain the tenant’s responsibility, and the landlord directly pays these costs. To offset the higher cost to the tenant, the base rent for a double net lease is less than for a conventional lease.

Triple Net Lease

Triple net leases are often known as NNN leases or net-net leases. This kind of lease requires the tenant to cover the property taxes, insurance for the property, and the costs of repairs and maintenance for the structure itself. This kind of lease is highly appealing to landlords as it shields them from a large amount of risk and liability. Like double and single net leases, the rent of triple net leases tends to be less. This is the kind of lease that Net Lease World uses for the properties it leases.

Net Lease World

Net Lease World is a platform that offers an easy and efficient method to transact Net Lease properties. It has portals for buyers and real estate agents that create an intuitive system to conduct transactions on net lease properties. Net Lease World allows its customers to filter the available properties based on various significant criteria, including the annual rent income, caps rate, and the property’s type. It allows them to locate homes for sale that match their needs without difficulty that other rivals have to fight to meet. Furthermore, the site offers the ability to make an offer for the property on the internet, which enhances its accessibility.

Final Thoughts

There are three major kinds that net leases can be classified into. They are single, triple, double, and triple net leases. This is the preferred kind of net lease for landlords since it minimizes risk the best compared to other forms where net leases are available. Net Lease World simplifies negotiating triple net lease properties with its user-friendly and intuitive interface, which is why they’re making it easier than ever before to invest in a net lease property.

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