This may require providing life expectancies and repair/replacement cost estimates. Also, since this type of client is responsible for the cost of maintenance and repairs for the building, they will likely want the inspector to determine if there will be any big-ticket repairs or replacements in the foreseeable future. The lessee will typically order a standard inspection to determine the general condition of the property. Oftentimes, the lessor will own more than one property and, therefore, repeat business can occur if the client is impressed with your service. Although the lessor will not be responsible for the maintenance or repair of the property’s systems and components, documentation can be used as protection if a claim is filed by the tenant. The lessor might order an inspection to procure documentation about the condition of the property before leasing it out. Pre-Lease InspectionĪ pre-lease inspection should be performed for both the lessor and lessee. The most common types of buildings for this kind of transaction include retail, office, and industrial, and generally the term of the lease is at least five years. It’s more common for this type of inspection to be performed on older properties and for long-term leases. It should be performed for both the lessor and lessee and can occur pre-lease, during the term of the lease, or post-lease. About Triple-Net Lease InspectionsĪ triple-net lease inspection, also referred to as triple-NET or NNN lease inspection, is a type of inspection that is performed for a triple-net lease real estate transaction. It’s important for a commercial inspector to be familiar with the different types of commercial leases to better understand and serve the client’s needs. A gross lease is a lease agreement where the lessor is responsible for most expenses associated with the property, including taxes, insurance, and maintenance.The expenses assigned to the lessee in an NNN lease are the same for this type, too. A ground lease is a lease agreement where a property owner owns the land and a lessee can develop it.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |