Thursday, October 30, 2014

What Is A Gross Lease And Net Lease?

The difference between a gross  lease and a net lease are as follows. A gross lease is a lease where the tenant pays for the monthly rent and the landlord pays the property taxes, insurance and maintenance. The landlord may or may not pay for the tenants utilities.
In a net lease, the tenant is responsible to pay additional costs other than  the monthly rent.  These additional costs are called CAM charges, Common Area Maintenance charges. These CAM charges in a triple net lease are the additional costs associated with the property's monthly rent.   There are three types of net leases, a single net, double net and triple net lease. In a single net lease the tenant is responsible to pay the monthly rent and the property taxes. In a double net lease the tenant pays the monthly rent, property taxes and insurance. In a triple net lease the tenant pays the monthly rent, property taxes, insurance and maintenance.

Today's New Listings!

34645 Willow Creek Pl, Willoughby  - $399,000 1331 Bennett Rd, Madison - $329,900 7165 Hawthorne Dr, Mentor - $274,900 4423 Ashwood Ave...