Triple net properties refer to an arrangement where tenants pay for structure revenues, insurance, as well as maintenance costs. Also, they cater for all expenses as stated in the rental contract. Here are factors to look at when choosing NNN properties.
Lease a strategically located unit. Look at the population density of an area, demographic data, as well as accessibility. Also, check the traffic count of a region before making your selection.
Read the leasing contract and find out the rate paid for property renewal. Negotiate for reasonable terms with the landlord before extending your stay. Compare the renewal amount with the cost of getting another property.
Go for contracts with a longer duration. Renewing shorter leasing agreements is expensive, as inflation might affect the new rates. Longer contracts give you time to plan for the next renewal process.
Investors should look at the security and available resources when choosing a leasing property. In addition, master the market trends for easy transactions. Finally, engage a professional realtor for a smooth renting process.
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