Triple Net Lease Form Sample
Triple net lease form is a kind of form made for an agreement of commercial lease where the tenant agrees to pay an amount of base rental & the net amount of the real estate taxes of the landlord, building insurance net amount & also common area maintenance expense net amount.
How to Make a Triple Net Lease Form
Before start making a triple net lease template, you have to know the type first. In fact, there are 2 types available. The most common use is for free standing commercial building whereas another option is for single-family residential rental real estate.
After you decide the type based on the purpose, now you can start creating the form. There are some kinds of information you need to provide in the form. First, you should provide the agreement effective date. It informs the when the lease is going to start.
After that, you should provide the names & addresses of agreement parties. This information at least includes both the landlord & the tenant. Make sure that you write the names and addresses rightly & clearly.
The next information you must provide is the leased property description. For example, you can describe the width of home, the features, or legal description or sketch of the property. You can find the legal description on the deed or mortgage documents.
NNN Lease form should also include the leased term property. It describes the beginning date as well as the end date of the lease term. If the landlord makes alteration to the home or property, you also need to state the actual numbers of the days.
The last information provided is about payment. Payment information describes how often the payment is made. Besides, it also describes the payment amount, when the payment is made, and where the payment is made.
If there are some other kinds information needed, you can also state them. Optionally, you may need to state the required security deposit. It describes the specific amount of deposit. Returned check fee may also be needed to be described.
You can also state the late lease payment penalty. For example, it describes about the due date of late payment, the penalty for late payment, & the lease payment percentage. Make sure that the due date is described specifically.
If the tenant terminates the lease early, you need to state the penalty for it. It may be about the specific notice period or the amount of penalty for that. It should also be clear whether the landlord can terminate the lease if the property is sold within the lease term.
There are still many optional terms you can provide if needed. For examples are the provided storage to tenant, damage charges to certain property by the tenant, landlord’s duty for property repairmen, casualty insurance, liability insurance, etc.
Now, if you want to lease a commercial rental property or want to lease an own commercial property to a tenant, you can create a triple net lease form based on the guides above.