If you are into real estate, you probably have already heard about the triple net lease. So what is NNN, a triple net lease? In a triple net lease, the tenant is responsible for the property’s maintenance, insurance, and taxes in addition to the rent. This, in turn, makes it easier for the landlord in terms of maintenance, as they won’t have to keep on checking if everything is in check. The tenant, on the other hand, also benefits from NNN investments in that they can create a long-lasting business footprint, get some tax benefits and the base price point of the property is also low.
If you wish to invest in a triple net lease, you will need to find the right triple net lease company. In this read, we will be giving you a few tips that will help you find the right triple net ease company.
1. Gather referrals and read online reviews
The reputation of a triple net lease company says a lot about them. This, therefore, is something that you will need to find out before making your decision. It’s crucial to find out what other people have to say about a company before deciding on one. Check with some of your friends and family to see if they have any recommendations for triple net lease companies. This can be very helpful as you will get honest feedback, and you can be able to choose one based on this. You may also lookup internet reviews to see what other customers have to say about the business.
A triple net lease company with good reviews is a good sign as it shows that you can trust them with your investment.
2. Find out more about their experience
A triple net lease firm that has been in business for a long time would be beneficial to you. This is because they know everything there is to know about NNN. Due to their experience, they are in a better position to guide and educate you more on everything to do with NNN. Furthermore, they are likely to have a broader network, which you may take advantage of. If you are looking forward to leasing your property, for instance, you can easily find a tenant through a more experienced triple net lease company.
3. Choose a professional NNN broker
It is critical to work with someone who is professional at all times, whether you are a buyer or a seller of real estate. The broker should know what is expected of them from the get-go. They should also be good communicators and negotiators so as to enable them to seal the deal fast. It is also critical to work with a NNN broker who will keep you in the loop at all times.
4. Ask for a quotation
Before signing any contract with a NNN company, ask for a quotation. This way, you can be able to decide if you can work with them or not. Do not, however, make your decision exclusively on the basis of the charges.
If you have been looking for a triple net lease company, the tips mentioned above will be of great help to you.