? for the Business minded on Triple Net Leases

[Anonymous]

I need to be schooled; not finding the answers I need.

Have recently inherited family owned property that we lease out for commercial business; lease is coming up very soon to renew. I want to do a triple net lease, but partner (a family member) says it is not a good idea. Partner says a triple net lease is based on the income that the person leasing brings in each month. I disagree with this....seems simple to me...a base rate of rent (set in stone), they pay property taxes, property maintenance and property insurance... etc

I know what a triple net lease is; but need it explained more detailed..the benefits, pros and cons, expectations etc... Thanks!

 

[Anonymous]

These are fairly straight forward, however several factors can be considered for a dismissal. Fortunately, local laws will preempt any prefunctory challenge to the original lessees right to termination. But, insofar as the lessors claim of instatutable deeding--only the deed/fault/lien process applies. Clearly then, you are able to only triple net lease if unicorns fly out your butthole.

 

[Anonymous]

These are fairly straight forward, however several factors can be considered for a dismissal. Fortunately, local laws will preempt any prefunctory challenge to the original lessees right to termination. But, insofar as the lessors claim of instatutable deeding--only the deed/fault/lien process applies. Clearly then, you are able to only triple net lease if unicorns fly out your butthole.

HUH? This makes no sense. The OP asked for simple explanation, pros and cons. And yes a NNN can be done as most commercial leases are NNN.