Miami one of the many places you can find within the United States that offers people with a full range of options when it comes to investment opportunities. Its commercial real estate market carries some of the finest properties you can think of to help you create the best possible business venture possible.
Needless to say, people who are looking to buy Miami commercial real estate properties will face a different process as opposed to people who are buying residential real estate properties, and the considerations that are involved with commercial real estate properties do tend to increase in substantial amounts.
People who are looking to get the best commercial real estate deals from the local market of Miami should be careful about the terms of lease which are included in many of the properties that are currently available to you. As you go about the terms of lease for any piece of Miami commercial real estate that you might be interested, you need to keep a few things in mind to help you come to a better decision for your investment. Our focus will be on the different types of lease that you will be able to find today, and those types include the following:
Percentage Lease – often used in malls and other retail businesses, this type of lease goes by a sum of the base rent plus the percent of monthly sales that will be made by the business establishment.
Net Lease – one of the most common types of lease that you can expect to find being used with most Miami commercial real estate properties, net lease terms often favor the interest of the landlord in general. Net lease terms work by charging the rent, but on top of that the tenant is expected to settle some of all of the necessary taxes, insurance, and other maintenance expenses that may be incurred over time.
Double Net Lease – an option which is quite similar to that of net lease terms, but instead of having the option of paying some or all of the other necessary costs for taxes, insurance, and maintenance, double net lease terms make it a must for the tenant to cover the cost of both tax and insurance.
Triple Net Lease – also similar to net lease terms, triple net lease requires the tenant to take care of the rent along with all the expenses that will need to be settled for taxes, insurance, as well as maintenance.
Fully Serviced Lease – often used for office real estate, and sometimes for retail and industrial purposes; fully serviced lease terms specify that the landlord is entirely responsible for settling all of the usual costs and fees due for that specific property.
As long as you understand the differences in each of these types of lease that you will find being incorporated on the Miami commercial real estate market today, you should have a better idea on what suits your purposes to your best interest so that you might be able to enjoy better results for your business.
Miami Commercial Real Estate