Quote:
Originally Posted by L-Pink
Maintenance is normal procedure? Do you have any idea what a triple net lease is? And how most tenants are constantly in default? No google allowed, lol.
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That is partly the landlords fault. Nobody will take care of your shit as good as you. Go full service, or modified gross on office space. I don't do industrial (I think you were into warehouses?), but I know there is something essentially the same as modified gross, maybe even called the same.
Reserve the NNN leases for the McDonalds, CVS' and Walgreens of the world. Where they'll be there for 20 or 30 years, have professional property managers and maintenance on staff, and are happy to assume that responsiblility so you can sit back and get your 7% CAP.
Just like Enterprise doesn't make the renters change the oil, landlords should not expect tenants to take care of their shit as well as them. They have no experience in property management and zero incentive to care about your shit. Doubly so if they're going to move on in five to seven.