In this week's episode, Mike and Marc explain the differences between NNN, Gross, and Modified Gross leases. They give a detailed breakdown of what the additional monthly expenses that tenants and landlords should expect for each lease type. This episode should leave listeners with a basic understanding of how and why leases vary and how that can impact a monthly budget.
Episode Notes
Introduction (0:00)
What is a NNN lease and what is CAM (1:39)
What is included in a Gross lease (4:54)
How do Modified Gross leases differ (7:01)
What should you expect to pay for NNNs for industrial, retail, or office (7:44)
When and how are expenses reconciled (10:30)
How can you change a NNN lease to a Gross lease (11:16)
Pros and cons of NNN and Gross leases (12:36)
What is a Base Year (16:25)
How can an agent help you to understand your lease expenses (17:55)
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