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Updated about 7 years ago, 12/01/2017
Commercial property with NNN lease
I am newbie to commercial real estate and study this recently. I plan to purchase out of state commercial property with NNN lease. Per my understanding, for NNN lease, it is leasee's responsibility to handle all maintenance cost and pay insurance and property tax. So from landlord point of view, I should be hassle free ideally and net rent should be my net income.
Anyone has out of state commercial property experience with NNN lease here? Is that easy to handle for the out of state investor who could not visit property easily?
Also since landlord has no maintenance responsibility for the property, do I still need management company to manage the property?
How can I guarantee the leasee will pay the property tax and buy the property insurance for the property? Will I get tax payment receipt and detail insurance policy copy which I can make sure they have the correct policy and enough coverage?
Thanks a lot for any suggestion and advise.