Triple Net Lease Renewal - Questions

[Elizabeth Lagattolla]

Hi - I have a commercial building that I'm leasing (triple net lease) that is due to come up for renewal after (5) years.  Since this is my first commercial investment five years ago, the original lease/negotiation of the commercial lease was done by my attorney.  Should I have my attorney review the current lease for renewal and advise me on any changes; what the base rent should be since it will be locked in for another (5) years?  Or this lease something I can do myself?  Please advise.  

Do I notify the tenant of the renewal of the lease and increase of rent a year in advance?   I've been doing some research on Triple Net Leases and some owners do the renewal/negotiation themselves but this is new to me and I need some guidance on the process.  I own rental properties and handle the renewal of leases each year, and understand that process.  With Triple Net Leases, the tenant pays for property taxes, insurance premiums and maintenance fees, etc.  

Where can I find some information on triple net leases for landlords that would be helpful.  Any advice/suggestions would be appreciate.  Thanks!

[John McKee]

I've done all my releasing. It's more affordable, saves time, and I have added things over the years that most lawyers haven't thought of. In some cases it's a simple one page amendment. You already have the base lease and odds are there is a renewal clause in there somewhere and yes you need to notify them of the renewal asap. The biggest thing is to clarify what defines the NNN expenses because it can be vague when it comes to HVAC, Roofing, Parking lot, Sewer, etc. The difference between maintenance and replacement needs to be defined as well as service contracts for HVAC, sprinkler, Hood, pest control etc. What you don't want is a vague lease on these items. Happy to help.